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Changing from the LIFO (Last-In,First-Out)to Specific-Identification Method of Valuing Inventory

Question 19

Multiple Choice

Changing from the LIFO (Last-In,First-Out) to specific-identification method of valuing inventory ignores the:

A) principle of comparability.
B) principle of relevance.
C) principle of conservatism.
D) concept of materiality.

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