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What is dollar-value method of lifo inventory valuation

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Reference no: EM132561242

Question 1: What is dollar-value method of LIFO inventory valuation? What advantage does the dollar value method have over the specific goods approach of LIFO inventory valuation? Why will the traditional LIFO inventory costing method produce different inventory valuations if the composition of the inventory base changes?

Reference no: EM132561242

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