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(Summit Distributors Case)1. If You Were Kathy Hutton, What Would You Do?2. If You Were Dave Flanders, Would You Recommend Staying With The LIFOinventory-Valuation Method
(Summit Distributors Case)1. If You Were Kathy Hutton, What Would You Do?2. If You Were Dave Flanders, Would You Recommend Staying With The LIFOinventory-Valuation Method Or Switching To FIFO? Why? What Are The Cash-Flow Ramifications Of The Accounting Change?3. If There Were No Cash-Flow Consequences Associated With The Accounting (Summit Distributors Case) 1. If you were Kathy Hutton, what would you do? 2. If you were Dave Flanders, would you recommend staying with the LIFO inventory-valuation method or switching to FIFO? Why? What are the cash- flow ramifications of the accounting change? 3. If there were no cash-flow consequences associated with the accounting change, would you change your answers to questions 1 or
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