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Under which situation may a company change inventory costing methods, e.g, from LIFO to FIFO? a When the replacement cost is less than the original
Under which situation may a company change inventory costing methods, e.g, from LIFO to FIFO?
a When the replacement cost is less than the original cost of inventory items on hand.
b When a company can justify why a switch will provide a more meaningful financial statement information.
c For any reason, at the end of a companys operating cycle.
d When the new method will allow the company to save income taxes.
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