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KQuestion 10 (of 20) 10. Which of the following is(are) true regarding cost flow assumptions? O Manufacturing firms are required to use FIFO O Service

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KQuestion 10 (of 20) 10. Which of the following is(are) true regarding cost flow assumptions? O Manufacturing firms are required to use FIFO O Service firms are required to use LIFO If a firm uses FIFO for tax purposes, then FIFO must be used for financial reporting purposes. If a firm uses LIFO for tex purposes, then LiFO must be used for firancia reporting purposes O All of the above

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