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    Intermediate Accounting IFRS Study Set 2
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    Exam 8: Valuation of Inventories: a Cost-Basis Approach
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    Use the Following Information for Questions
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Use the Following Information for Questions

Question 85

Question 85

Multiple Choice

Use the following information for questions.
Niles Co.has the following data related to an item of inventory: Use the following information for questions. Niles Co.has the following data related to an item of inventory:   -The value assigned to cost of goods sold if Niles uses FIFO is A) $579. B) $552. C) $1,723. D) $1,696.
-The value assigned to cost of goods sold if Niles uses FIFO is


A) $579.
B) $552.
C) $1,723.
D) $1,696.

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