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The choice of inventory cost flow assumption has a major effect on firms results. Is it appropriate that GAAP allows a choice in method when

The choice of inventory cost flow assumption has a major effect on firms

results. Is it appropriate that GAAP allows a choice in method when the results are so different? Why or why not? If GAAP mandated or limited the choice of methods, which one

(

)

do you think would be most appropriate?

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