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Hoosier Inc. uses the LIFO inventory cost method to prepare the company's tax return. Which method must the company use to account for inventory on
Hoosier Inc. uses the LIFO inventory cost method to prepare the company's tax return. Which method must the company use to account for inventory on their financial statements? Assume US GAAP and rising costs.
FIFO
LIFO
Weighted average or LIFO
Specific Identification
LIFO or FIFO, but not weighted average
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