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If using the FIFO method to calculate ending inventory, the first units purchased are assumed to be the last units sold. True False
If using the FIFO method to calculate ending inventory, the first units purchased are assumed to be the last units sold.
True
False
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Accounting Principles
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
7th Canadian Edition Volume 2
1119048478, 978-1119048473
