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Which method results in the highest net income during period

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Reference no: EM132790086

Problem 1: A company must choose between the Periodic and Perpetual System when accounting for inventory.  Describe two differences between these two systems.

Problem 2: Describe how each of the following inventory costing methods is used:

  1. First-in, First-out
  2. Last-in, First-out
  3. Weighted-average cost

Problem 3: Which method results in the highest net income during a period of rising unit prices?

Reference no: EM132790086

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