Question: 1. list the various methods allowed to account for inventory and depreciation. 2. Comment on why the FASB would allow for such diversity in accounting

1. list the various methods allowed to account for inventory and depreciation.

2. Comment on why the FASB would allow for such diversity in accounting methods when one of the goals of the profession is the ability to compare the financial statements between firms.

Ref: Principles of Accounting, Vol 1

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