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A company uses LIFO to costits inventory. Which statement is true? One way to think about the ending inventory under LIFO is the LISH assumption
A company uses LIFO to costits inventory. Which statement is true? One way to think about the ending inventory under LIFO is the LISH assumption The cost of the company's older inventory items are transferred to cost of goods sold prior to the cost of the newly acquired items The company must sell its newer inventory items before its older items The company will pay less income taxes in periods of rising prices compared to using FIFO
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