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Which method of costing will yield the largest net income

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Reference no: EM132966475

Problem 1: If merchandise inventory is being valued at cost and the purchase price is steadily falling, which method of costing will yield the largest net income?

Select one:

a. average cost.
b. LIFO.
c. FIFO.
d. weighted average.
e. All methods will result in the same figure of net income.

Reference no: EM132966475

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