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    Essentials of Entrepreneurship Study Set 2
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    Exam 7: Buying an Existing Business
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    FIFO, LIFO, and Average Costing Are Three Frequently Used Techniques
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FIFO, LIFO, and Average Costing Are Three Frequently Used Techniques

Question 23

Question 23

True/False

FIFO, LIFO, and average costing are three frequently used techniques, but the most common methods use the cost of last purchase and the replacement value of the inventory.

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