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Why do generally accepted accounting principles require the use of lower of cost or market in valuing inventory? What are the three different inventory cost flow assumptions commonly used in commerce today and allowed by generally accepted accounting principles? How does a company determine what cost flow assumption they should use?
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During April, 1,000 drives were sold. Fixed costs for March were $2 per unit for a total of $1,000 for the month. How much is the contribution margin ratio?
How do you find the amount to credit for a raw materials transaction
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