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The board of directors of 1chiro corporation is considering whether or not it should instruct the accounting department to shift from a first-in, first-out (FIFO)

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The board of directors of 1chiro corporation is considering whether or not it should instruct the accounting department to shift from a first-in, first-out (FIFO) basis of pricing inventories to a last-in, first-out (LIFO) basis. The following information is available. Prepare a condensed income statement for the year on both bases for comparative purposes

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