Name the four major inventory costing methods

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Reference no: EM13793614

1. Name the four major inventory costing methods. Which of the four will show the lowest profits for a year when there are falling prices?

2. What does "LCM" stand for?

How does this relate to inventory?

3. Explain how one estimates ending inventory using the gross profit method. Be very detailed and specific.

Reference no: EM13793614

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