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Answer following questions: 1, Explain why reducing inventory levels can result in losing the benefits...

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Accounting

Answer following questions:

1, Explain why reducing inventory levels can result in losing the benefits of LIFO

2.FIFO can result in an inventory profit. What is an inventory profit and why is it considered a negative thing?

3. What type of business would most likely use the Specifi Unit Cost Mehod?

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