Question: All the following is true about LIFO except: Question 28Answer a. Unit cost of the oldest items in inventory times the number of units in

All the following is true about LIFO except: Question 28Answer a. Unit cost of the oldest items in inventory times the number of units in inventory equals the total cost of inventory. b. The last item put into inventory is the first item used from the inventory. c. LIFO generates an inventory of older items. d. LIFO generates an inventory of newer items

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