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A company uses the first in first out inventory (FIFO) method. If the company makes a large inventory purchase on December 31st, this will: a.
A company uses the first in first out inventory (FIFO) method. If the company makes a large inventory purchase on December 31st, this will:
a. increase costs of goods sold
b. increase ending inventory
c. increase both ending inventory and cost of goods sold
d. increase reported income
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