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Consider the following statements regarding Company A and Company B : The two companies are identical except for their inventory accounting methods. Inventory prices rose
Consider the following statements regarding Company A and Company B : The two companies are identical except for their inventory accounting methods. Inventory prices rose throughout the year. Company B reported lower total assets than Company A at the end of this year. Which of the two companies most likely reports under US GAAP? A only B only It cannot be determined based on the information provided Neither A nor B
Consider the following statements regarding Company A and Company B :
The two companies are identical except for their inventory accounting methods.
Inventory prices rose throughout the year.
Company B reported lower total assets than Company A at the end of this year. Which of the two companies most likely reports under US GAAP?
A only
B only
It cannot be determined based on the information provided
Neither A nor B
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