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Discussion Form: 1. Explain why LIFO is not used in process costing? 2. Explain the concept of equivalent units of production? 3. What is the

Discussion Form:

1. Explain why LIFO is not used in process costing?

2. Explain the concept of equivalent units of production?

3. What is the difference between FIFO method and Average Cost method?

4. Explain the purpose of break-even analysis?

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