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Why do most managers oppose the LIFO conformity rule? It disallows the use of LIFO in the preparation of audited financial reports to shareholders.
Why do most managers oppose the LIFO conformity rule? It disallows the use of LIFO in the preparation of audited financial reports to shareholders. It makes them choose between saving income taxes and reporting higher profits to shareholders. It requires the replacement cost method to value units sold and units on hand. It creates excessive inventory reserves. 10 pa
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Fundamentals of Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
6th edition
0-07-786223-6, 101259095592, 13: 978-0-07-7, 13978125909559, 978-0077862237
