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Current Attempt in Progress Compare the financial effects (ignore income tax) of using the FIFO and average inventory cost formulas during a period of
Current Attempt in Progress Compare the financial effects (ignore income tax) of using the FIFO and average inventory cost formulas during a period of declining prices on the following items: (1) Cash (2) Ending inventory (3) Cost of goods sold (4) Net income (5) Retained earnings Average inventory cost FIFO method method
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