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Search the web... - Search. . Search . Share More >> Ch 6 Day 3 Prep Assignment Saved Help Se QS 6-18 Contrasting inventory costing methods LO A1 dentily the inventory costing method best described by each of the following separate statements. Assume a perio 10 points costs as a balance sheet inventory amount ofen markedly less than its replacement cost Results i n a balance sheet inventory amount approximating replacement cost 3. Provides a tax advantage (deferral) to a corporation when costs are rising Recognizes (manches) recent costs against net sales Specific identification 5 The pretenred method when each unt of product has unique feanures that markedly atflect cost Pre 1 o 4 Next TOSHIBA 6 8 E R D FGHJK L ENTER

Explanation / Answer

1)LIFO
2)FIFO
3)LIFO
4)LIFO
5)Specific identification

The above is the definition and features of the each inventory system

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