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12. Why do U.S. companies keep using LIFO while IFRS prohibits it? a. Just to...

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Accounting

12. Why do U.S. companies keep using LIFO while IFRS prohibits it?

a. Just to be annoying.

b. LIFO assigns less weight to the balance sheet.

c. The taxing authority in the U.S. has conformity provisions.

d. LIFO means fresher products end up on the store shelves.

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