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Javier asked his brothers Mario and Luis to keep the books and prepare financial statements of his Coffee Shop. Both brothers worked by their own.

Javier asked his brothers Mario and Luis to keep the books and prepare financial statements of his Coffee Shop. Both brothers worked by their own. Mario reported a net income of $950 for the first year of operations of Javiers business. Luis reported a net income of $1,200 instead. They did exactly the same on each ones work except for the ending inventory cost flow assumption. Which one among Mario and Luis used the FIFO method, who used the LIFO

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