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Due Day 3 Respond to the following in a minimum of 175 words: Explain how the inventory valuation method (LIFO or FIFO) chosen by a

Due Day 3

Respond to the following in a minimum of 175 words:

Explain how the inventory valuation method (LIFO or FIFO) chosen by a company affects the cost of goods sold and net income if prices are rising. What if the prices are declining?

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