Question: a) Explain three inventory valuation methods b) Discuss the implications of choosing different inventory methods on financial statement. c) How are these methods used to

a) Explain three inventory valuation methods

b) Discuss the implications of choosing different inventory methods on financial statement.

c) How are these methods used to manipulate net income without violating the accounting principles?

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a Explanation of Three Inventory Valuation Methods 1 FirstIn FirstOut FIFO Under FIFO it is assumed that the first inventory items purchased or produced are the first ones to be sold As a result the c... View full answer

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