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Under which inventory method will ending inventory and COGS be the same under both the perpetual and periodic systems? Which inventory method avoids the extremes

  1. Under which inventory method will ending inventory and COGS be the same under both the perpetual and periodic systems?
  2. Which inventory method avoids the extremes of low and high costs over the year?
  3. Under the perpetual inventory system, what effect will including goods in transit that were purchased f.o.b. shipping point in ending inventory have on net income?

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