Question: In a period of rising prices the inventory reported in Barto Company s

In a period of rising prices, the inventory reported in Barto Company's balance sheet is close to the current cost of the inventory. Phelan Company's inventory is considerably below its current cost. Identify the inventory cost flow method being used by each company.
Which company has probably been reporting the higher gross profit?


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  • CreatedDecember 29, 2012
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