If You Wish to Compute Economic Earnings and Are Trying

question 59

Multiple Choice

If you wish to compute economic earnings and are trying to decide how to account for inventory,

• A)FIFO is better than LIFO.
• B)LIFO is better than FIFO.
• C)FIFO and LIFO are equally good.
• D)FIFO and LIFO are equally bad.

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