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which if the following statements regarding accounting for inventories is correct? a- FIFO assumes that the earliest goods acquired are the first to be sold

which if the following statements regarding accounting for inventories is correct?
a- FIFO assumes that the earliest goods acquired are the first to be sold
b- none of the answers are correct
c- under FIFI, the cost of ending inventory is based on the earliest units
d- it is generally good business management to sell the most recently acquired good first

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