Assume that a company must use the same inventory flow, Accounting Basics

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Assume that a company must use the same inventory flow

Assume that a company must use the same inventory flow assumption consis- tently from year to year. Which flow assumption would generally result in the highest reported income during an extended period of rising prices? Which during an extended period of falling prices?

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Accounting Basics: Assume that a company must use the same inventory flow

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