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  3. 2. fifo, lifo and weighted average are the three m

2. FIFO, LIFO and weighted average are the three most commonly used methods for costing...

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Accounting

2. FIFO, LIFO and weighted average are the three most commonly used methods for costing inventory. Required: Compare and contrast these methods, discussing the theoretical propriety of each method in the determination of income and asset valuation. Include in your discussion, advantages and disadvantages of each method

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