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    Financial Accounting Study Set 11
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    Exam 6: Inventory Cost of Goods Sold
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    A Company Uses LIFO in One Year,then Switches to FIFO
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A Company Uses LIFO in One Year,then Switches to FIFO

Question 153

Question 153

Multiple Choice

A company uses LIFO in one year,then switches to FIFO and then to average-cost.This is a violation of the:


A) disclosure principle
B) historical cost principle.
C) consistency principle.
D) conservatism principle.

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