Solved: Methods available under us gapp, Accounting Basics

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Methods available under us gapp

Problem:

Inventory costing comes in many different sizes. LIFO, FIFO, weighted average, and moving average are just some of the methods under US GAAP.

Why do you think there are so many methods available under US GAPP (other than to keep accountants employed) and why would a company prefer one over the other?

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Accounting Basics: Methods available under us gapp

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