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  3. lifo liquidation occurs when: a company purchases

LIFO liquidation occurs when: A company purchases more inventory than it sells over a period....

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LIFO liquidation occurs when: A company purchases more inventory than it sells over a period. A FIFO-based company goes bankrupt. A company switches the type of inventory accounting it uses. A company sells more inventory than it purchases over a period. 10 10 points IFRS allows reversals when adjusting inventory values while US GAAP does not. True False

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