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If All Things Are Equal,except One Company Uses LIFO During

Question 124

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) The two companies will rely upon an industry inventory turnover measurement.

Correct Answer:

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