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use LIFO for U.S. purposes, as opposed to using FIFO for foreign subsidiaries when prices are rising?A. LIFO creates paper profits.B. LIFO generally approximates the
use LIFO for U.S. purposes, as opposed to using FIFO for foreign subsidiaries when prices are rising?A. LIFO creates paper profits.B. LIFO generally approximates the physical flow of items.C. Under LIFO, inventory is less vulnerable to price declines.D. LIFO eliminates balance sheet distortion.
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