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Conner, Martin, Lopez, and Knepp are trying to figure out how, if they do not change inventory methods, the company can take advantage of a
Conner, Martin, Lopez, and Knepp are trying to figure out how, if they do not change inventory methods, the company can take advantage of a LIFO liquidation this year so that the income statement looks better. They ask your opinion about whether they should do this. Prepare a memorandum to CM2s management about the dangers of managing earnings in this manner.
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