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Please answer in your own words. Assume that you are the president of your company and paid a year-end bonus according to the amount of
Please answer in your own words.
Assume that you are the president of your company and paid a year-end bonus according to the amount of net income earned during the year. When prices are rising, would you choose a FIFO or weighted average cost flow assumption? Explain, using an example to support your answer. Would your choice be the same if prices were falling?
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