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Which one of the following inventory valuation statements are correct?
Select one:
a.The desire to increase profits is a good reason to switch from weighted average to FIFO when valuing inventory
b.Specific identification is commonly used to value customized or easily identifiable products
c.The FIFO method assumes that the oldest inventory is sold last
d.Well managed businesses try to first sell most recently purchased inventory
e.The specific identification method is commonly used in grocery stores
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