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Daniel Company uses a periodic inventory system. Data for the current year: beginning merchandise
inventory ending inventory December prior year units at $; purchases, units at $;
expenses excluding income taxes $; ending inventory per physical count at December current
year, units; sales, units; sales price per unit, $; and average income tax rate, percent.
Between FIFO and LIFO, which method is preferable in terms of a net income and income taxes paid cash flow
