Determine which costing method (Last In First Out [LIFO], First In First Out [FIFO], or weighted average cost) that is used to record inventory by your selected company. |
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- Use the Internet to research the annual report of at least one (1) merchandising company. For example, while you can’t use this one, here is one from
- Determine which costing method (Last In First Out [LIFO], First In First Out [FIFO], or weighted average cost) that is used to record inventory by your selected company.
- Share three (3) advantages and three (3) disadvantages of using the type of costing method (LIFO, FIFO, and weighted average) that the company has implemented.
- Provide support for your response.
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