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Accounting Procedures Allow a Business to Evaluate Their Inventory at LIFO

Question 84

Multiple Choice

Accounting procedures allow a business to evaluate their inventory at LIFO (Last In First Out) or FIFO (First In First Out) . A manufacturer evaluated its finished goods inventory (in $000) for five products both ways. Based on the following results, is LIFO more effective in keeping the value of his inventory lower? Accounting procedures allow a business to evaluate their inventory at LIFO (Last In First Out) or FIFO (First In First Out) . A manufacturer evaluated its finished goods inventory (in $000) for five products both ways. Based on the following results, is LIFO more effective in keeping the value of his inventory lower? What is the value of calculated t? A) +0.93 B) ±2.776 C) +0.0.47 D) -2.028 E) None of these statements are correct. What is the value of calculated t?


A) +0.93
B) ±2.776
C) +0.0.47
D) -2.028
E) None of these statements are correct.

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