Lexis Corporation is considering changing its inventory method from FIFO to LIFO and wants to determine the

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Lexis Corporation is considering changing its inventory method from FIFO to LIFO and wants to determine the impact on selected accounting ratios. In general, what impact would you expect on the following ratios: profit margin, fixed asset turnover, current ratio, and quick ratio?

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Financial Accounting

ISBN: 9780070891739

1st Canadian Edition

Authors: Robert Libby

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