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Which of the following is a disadvantage of the Average Cost method of costing inventory? Balance Sheet costs (Merchandise Inventory) are old costs (not current

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Which of the following is a disadvantage of the Average Cost method of costing inventory? Balance Sheet costs (Merchandise Inventory) are old costs (not current costs). There is not the clear advantage of FIFO or LIFO. Keeping inventory records is time consuming with some types of inventory. Income Statement costs (Cost of Goods Sold) are old costs (not current costs)

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