Lacy Co. and Kuhn Inc. sell tables. Lacy uses the specific identification method of inventory...
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Lacy Co and Kuhn Inc. sell tables. Lacy uses the specific identification method of inventory costing, while Kuhn uses the average cost method. Both buy tables from the same supplier, and table costs vary from $ to $ If Lacy sells the $ tables before the $ ones, how will its net income compare to Kuhns if the same number of tables are sold? Select answer from the options below Lacys net income will be higher than Kuhns net income. Lacys net income cannot be compared to Kuhns net income in this scenario. Lacys net income will be equal to Kuhns net income. Lacys net income will be lower than Kuhns net income.
Lacy Co and Kuhn Inc. sell tables. Lacy uses the specific identification method of inventory costing, while Kuhn uses the average cost method. Both buy tables from the same supplier, and table costs vary from $ to $ If Lacy sells the $ tables before the $ ones, how will its net income compare to Kuhns if the same number of tables are sold?
Select answer from the options below
Lacys net income will be higher than Kuhns net income.
Lacys net income cannot be compared to Kuhns net income in this scenario.
Lacys net income will be equal to Kuhns net income.
Lacys net income will be lower than Kuhns net income.
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