What are two reasons some industries have inventory

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Reference no: EM133342127

Case: Knowing when ownership inventory passes from you to your customers or from your suppliers to you is important when properly stating your inventory balance on the balance sheet and your cost of goods sold on the income statement.

Respond to the following:

What are two reasons some industries have inventory on consignment?

Why would a company care about which inventory valuation method it uses-LIFO, FIFO, or average? Provide an example to support your answer.

Reference no: EM133342127

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