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A business uses a perpetual inventory system. During periods of rising prices, cost of goods...

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Question

Accounting

A business uses a perpetual inventory system. During periods of rising prices, cost of goods sold: using the FIFO cost formula will be

Select one:

a.

higher than using the weighted average cost formula.

b.

the same as using the weighted average cost formula.

c.

indeterminable.

d.

lower than using the weighted average cost formula.

Answer & Explanation Solved by verified expert
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