Determine which costing method is used to record inventory


Questions:

• Use the Internet to research the annual report of at least one merchandising company. For example, while you can't use this one, here is one from Walmart

• Determine which costing method (Last In First Out [LIFO], First In First Out [FIFO], or weighted average cost) that is used to record inventory by your selected company.

• Share three advantages and three disadvantages of using the type of costing method (LIFO, FIFO, and weighted average) that the company has implemented.

• Provide support for your response.

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Cost Accounting: Determine which costing method is used to record inventory
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