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In periods of rising prices, the inventory method which results in the inventory value on the balance sheet that is closest to current cost is
In periods of rising prices, the inventory method which results in the inventory value on the balance sheet that is closest to current cost is the FIFO method. UFO method. average-cost method. tax method. An overstatement of the beginning inventory results in no effect on the period's net income. an overstatement of net income an understatement of net income. a need to adjust purchases
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