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Which of the following statements regarding inventory valuation is correct? a Companies do not need...

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Accounting

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Which of the following statements regarding inventory valuation is correct? a Companies do not need to keep track of the amount of inventory on hand. b The LIFO inventory method produces the same results whether a periodic system or a perpetual system is used. c Under the moving average inventory system for perpetual inventory, a new unit cost is calculated after each inventory purchase but not after an inventory sale. d In periods of rising prices, LIFO produces a lower cost of goods sold amount than under FIFO

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