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Sheffield Company is a manufacturer of guns. At the end of the current tax year, its inventory had the following values: Sheffield uses the FIFO

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Sheffield Company is a manufacturer of guns. At the end of the current tax year, its inventory had the following values: Sheffield uses the FIFO method to value its inventory. What value should be used for the inventory for tax purposes? Inventory How would your answer charyge, if at all, if Sheffield uses the LIFO method? Itwentory

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