Multiple Choice
If all things are equal,except one company uses LIFO during inflation and the other uses FIFO,then:
A) The LIFO company will have a higher inventory turnover.
B) The FIFO company will have a higher inventory turnover.
C) The two companies will have the same inventory turnover.
D) Inventory valuation methods do not effect inventory turnover calculations.
Correct Answer:
Verified
Correct Answer:
Verified
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