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(d) Which of these three inventory costing methods would you choose to: 1. Reflect what is probably the physical flow of goods? LIFO FIFO Average

(d) Which of these three inventory costing methods would you choose to:

1. Reflect what is probably the physical flow of goods?

LIFO

FIFO

Average Cost

2. Minimize income taxes for the period?

LIFO

FIFO

Average Cost

3. Report the largest amount of income for the period?

LIFO

FIFO

Average Cost

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