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    Financial Accounting Study Set 2
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    Exam 7: Inventory and the Cost of Sales
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    Which Inventory Cost Flow Assumption Will Provide the Same Amounts
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Which Inventory Cost Flow Assumption Will Provide the Same Amounts

Question 97

Question 97

Multiple Choice

Which inventory cost flow assumption will provide the same amounts for ending inventory and cost of goods sold under both the periodic and perpetual inventory systems?


A) FIFO
B) LIFO
C) Average cost
D) NIFO

Correct Answer:

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