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During the past year, prices have been steadily falling Required: For each of the following three items, determine which inventory cost fnlow assumption, FIFO or

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During the past year, prices have been steadily falling Required: For each of the following three items, determine which inventory cost fnlow assumption, FIFO or LIFO, will result in the higher value If neither applies, select Value not affected" Value not affected FIFO LIFO ncome Tax Expense Gross Pr Sales

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