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7. The inventory valuation technique in which the inventory purchased later will be used first is called c. LIFO a. Specific Cost b. FIFO d.
7. The inventory valuation technique in which the inventory purchased later will be used first is called
c. LIFO
a. Specific Cost
b. FIFO
d. Average Cost
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8. Administrative expenses belong to the category
b. Period cost
a. Product cost
c. None of the above
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