NEED COMPLETED ASAP!!!! Accounting Discussion Question

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Use the Internet to research the annual report of at least one (1) merchandising company. 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.

  • Identify the three (3) primary advantages and three (3) primary disadvantages of using the costing method (LIFO, FIFO, and weighted average) that is used to record inventory.  
  • Discuss whether or not you believe that LIFO is a fair inventory valuation method.
  • Provide support for your response.
    • 4 years ago
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