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In period of rising prices, the inventory reported in Gumby Companys balance sheet is close to the current cost of the inventory. Pokey Companys inventory

In period of rising prices, the inventory reported in Gumby Companys balance sheet is close to the current cost of the inventory. Pokey Companys inventory is considerably below its current cost. Identify the inventory cost flow method being used by each company. Which company has probably been reporting the higher gross profit

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