What would be the reason why LIFO is no longer allowed as an inventory accounting method under

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What would be the reason why LIFO is no longer allowed as an inventory accounting method under GAAP?

What items to consider when picking out an inventory accounting system?

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Supply Chain Management Strategy Planning and Operation

ISBN: 978-0133800203

6th edition

Authors: Sunil Chopra, Peter Meindl

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Posted Date: Jan 25, 2021 01:02 PM

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What would be the reason why LIFO is no longer allowed as an inventory accounting method under

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IFRS prohibits LIFO due to potential distortions it may have on a companys profitability and financial statements For example LIFO can understate a companys earnings for the purposes of keeping taxabl... View the full answer

Supply Chain Management Strategy Planning and Operation

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