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If a company uses the LIFO method on its federal income tax return, then it A. Must use FIFO on its financial statements B. Must
If a company uses the LIFO method on its federal income tax return, then it
| A. | Must use FIFO on its financial statements | |
| B. | Must use LIFO on its financial statements | |
| C. | May use any cost flow assumption permitted by US GAAP on its financial statements | |
| D. | None of the above statement is correct |
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