For most companies,actual physical flow of their inventory follows LIFO.Most often,the actual physical flow of goods follows FIFO.
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Q15: If a company has ending inventory of
Q16: Merchandising companies purchase inventories that are primarily
Q17: Companies are free to choose FIFO,LIFO,or weighted-average
Q18: During periods of rising costs,FIFO generally results
Q19: Inventory is usually reported as a long-term
Q21: One of the primary benefits of using
Q22: Using LIFO,the amount reported for ending inventory
Q23: The inventory turnover ratio equals cost of
Q24: The use of the lower of cost
Q25: When the net realizable value of inventory
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