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Question 5 2 pts Given the following data, by how much would income change if FIFO is used rather than LIFO? Purchases Beginning inventory 3,000

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Question 5 2 pts Given the following data, by how much would income change if FIFO is used rather than LIFO? Purchases Beginning inventory 3,000 units at $60 7,000 units at $70 Units sold 8,000 Increase by $20,000 Decrease by $19,000 Decrease by $20,000 Increase by $19.000

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