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  3. Study Set
    Core Concepts of Accounting
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    Exam 5: Inventory
  5. Question
    When a Sale Occurs and a Company Uses the LIFO
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When a Sale Occurs and a Company Uses the LIFO

Question 74

Question 74

True/False

When a sale occurs and a company uses the LIFO method of inventory costing, the newest costs of inventory items are sent to Cost of Goods Sold.

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