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For a firm that uses the LIFO inventory cost method, a LIFO liquidation occurs if: a. sales decrease during a reporting period. b. inventory quantity
For a firm that uses the LIFO inventory cost method, a LIFO liquidation occurs if:
| a. sales decrease during a reporting period. | ||
| b. | inventory quantity decreases during a reporting period. | |
| c. | the firm changes to a different inventory cost method. |
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Bank Management Text And Cases
Authors: George H. Hempel, Alan B. Coleman, Donald G. Simonson
3rd Edition
