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Question 21 of 35. AAA, LLC, a single-member LLC, has a beginning-year Inventory of $700,000, and an ending-year Inventory of $800,000. During the year, it
Question 21 of 35. AAA, LLC, a single-member LLC, has a beginning-year Inventory of $700,000, and an ending-year Inventory of $800,000. During the year, it has total purchasing costs of $1.6 million. Its COGS for the year is: O $900,000 $1.3 million $1.6 million $3.1 million Question 24 of 35. Which of the following is FALSE about the UNICAP rules? O UNICAP expenses only include items that would otherwise be depreciated. O UNICAP costs are capitalized. O Some indirect costs are deductible in the current year. O Labor costs are subject to the UNICAP rules
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