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    Intermediate Accounting Reporting and Analysis Study Set 1
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    Exam 7: Inventories: Cost Measurement and Flow Assumptions
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    The Information Below Is Provided for Sea Company
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The Information Below Is Provided for Sea Company

Question 31

Question 31

Essay

The information below is provided for Sea Company:
a.
The information below is provided for Sea Company: a.    Compute Sea Company's 2016 ending inventory using dollar-value LIFO.  b. Explain why a company would want to use dollar-value LIFO. Compute Sea Company's 2016 ending inventory using dollar-value LIFO.
b. Explain why a company would want to use dollar-value LIFO.

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