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    Financial Accounting Study Set 30
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    Exam 7: Inventory and Cost of Goods Sold
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    The Selection of a Method of Inventory Costing Is Important
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The Selection of a Method of Inventory Costing Is Important

Question 84

Question 84

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The selection of a method of inventory costing is important because it will affect reported profit, income tax expense (and, hence, cash flow), and the inventory valuation reported on the statement of financial position.

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