How does lifo affect income
How does LIFO affect income if prices increase, decrease, or remain the same?
And how does FIFO do the same? And how do they both affectcash flow?
I am having trouble understamding how they would affect eachof these.
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Radar Inc. has developed a new and improved widget.The company plans to sell the product through an existing Web site. Radar's marketing department believes the product will sell for $49.
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How might these concerns affect your methodology, and how do you plan on approaching the topic more generally?