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A company uses the LIFO inventory method to determine cost. One of the managers complains that this is improper. He states: We always sell our
- A company uses the LIFO inventory method to determine cost. One of the managers complains that this is improper. He states: We always sell our oldest products first. So we should be using first-in, first-out inventory costing. What would you say in response to his comment?
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