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You are the cost manager of a manufacturing firm. You apply a process costing system using FIFO. Your company plans to adopt a just-in-time system

You are the cost manager of a manufacturing firm. You apply a process costing system using FIFO. Your company plans to adopt a just-in-time system and eliminate inventories. What is the impact of the use of FIFO versus the weighted average method given these plans? State theories and concept to support questions

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