Question: Compare and contrast the different inventory methods. Be sure to include a discussion of FIFO, LIFO, specific identification, retail inventory, lower-of-cost-or-market and net realizable methods.

Compare and contrast the different inventory methods. Be sure to include a discussion of FIFO, LIFO, specific identification, retail inventory, lower-of-cost-or-market and net realizable methods. Provide examples of companies that choose LIFO/FIFO as the better approach and explain why.

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