Describe how using the lifo inventory valuation method, Financial Accounting

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Describe how using the lifo inventory valuation method

Describe how using the LIFO inventory valuation method would compare to using the FIFO method in a time where costs were falling. Focus your response to the impact on the IMPACT STATEMENT (COGS and Gross Profit) Prepare your answer in complete sentences.

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Financial Accounting: Describe how using the lifo inventory valuation method

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