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Which of the statements is correct? In the United States: Select one: a. FIFO is not allowed for taxation purposes b. none of the statements
Which of the statements is correct? In the United States:
Select one:
a.
FIFO is not allowed for taxation purposes
b.
none of the statements is correct
c.
there is a requirement to use the same cost flow assumption for taxation and financial reporting purposes
d.
for perishable goods FIFO must be used
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