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Which of the Following Statements Is/are True

Question 112

Multiple Choice

Which of the following statements is/are true?


A) Valuing inventory under LIFO may produce different results depending on whether a perpetual or periodic inventory system is used.
B) Valuing inventory under the weighted average cost method always produces the same results using either a perpetual or periodic inventory system.
C) Valuing inventory under FIFO may produce different results depending on whether a perpetual or periodic inventory system is used.
D) All of the answers are true.

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