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How costs flow from inventory to cost of goods sold

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Problem 1: What types of companies would utilize a perpetual inventory system? Why?

Problem 2: Describe how costs flow from inventory to cost of goods sold for the FIFO and LIFO methods. If costs were declining, will the LIFO or FIFO method of inventory valuation yield the lower cost of goods sold? Why?

Reference no: EM132984756

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