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Inventory And Cost Of Goods Sold

Inventory And Cost Of Goods Sold

Submitted by • August 2, 2013 customwritingtips.com

Currently under the US GAAP, when it comes to inventory costing, there is no specific requirement that all inventories that are similar in nature apply a consistent cost formula. Further, the US GAAP does not prohibit LIFO, that is, ‘last in first out’ method.

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Voted by kallen

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