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Required Information [The following information applies to the questions displayed below.] Givoly Inc. uses a...

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Accounting

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Required Information [The following information applies to the questions displayed below.] Givoly Inc. uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year. the accounting records provided the following information for product 2: Units 6,880 Unit Cost Inventory, December 31, prior year For the current year: Purchase, March 5 Purchase, September 19 Sale ($30 each) Sale ($32 each) Operating expenses (excluding income tax expense) 6 2 18, see 9,800 8,800 15,880 $398,888 3. Which inventory costing method may be preferred for income tax purposes? Which inventory costing method may be preferred for income tax purposes

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