In which financial statement would the ending inventory

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Reference no: EM13598973

1. In which financial statement would the ending inventory balance of the business be listed?

2. If costs are declining, will the LIFO or FIFO method of inventory valuation yield the lower cost of goods sold? Why?

3. Can a company change its inventory costing method each accounting period? Explain.

4. What factors contribute to or cause inventory shrinkage?

5. How is Inventory Turnover calculated? Why is this ratio extremely valuable to the owner of a merchandising business?

Reference no: EM13598973

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