When perpetual inventory records are kept, the results under the FIFO and LIFO methods are the same

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When perpetual inventory records are kept, the results under the FIFO and LIFO methods are the same as they would be in a periodic inventory system.” Do you agree? Explain.

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Accounting Principles

ISBN: 9781118566671

11th Edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Question Posted: Sep 22, 2011 11:04 AM

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When perpetual inventory records are kept, the results under the FIFO and LIFO methods are the same

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Disagree The results under the FIFO method are the same but the results under th...View the full answer

Accounting Principles

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