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A reason why "pure" FIFO is rarely encountered in process costing is that:
(a) FIFO is usually applied within a department to compute the cost of units transferred out
(b) the units transferred into a department during a given time period are usually carried at an average unit cost
(c) tracking costs on a "pure" FIFO basis is very difficult
(d) All of these answers are correct
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Show the journal entries in 2006. (Please be reminded the year-end for ABC Corporate is Dec 31, adjusting is required)
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