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Which of the following statements regarding inventory accounting is true? Multiple Choice Use of the variable costing method is preferred under GAAP. Companies frequently disclose
Which of the following statements regarding inventory accounting is true?
Multiple Choice
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Use of the variable costing method is preferred under GAAP.
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Companies frequently disclose the effects of absorption costing on reported net income.
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When variable costing is used, fixed production costs are included as a part of inventory cost.
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When using the absorption costing method, all production costs should be inventoried.
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