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Musa Company's Inventory Balances for the Beginning and Ending of 2004

question 122

Multiple Choice

Musa Company's inventory balances for the beginning and ending of 2004, using both variable costing and absorption costing, are shown below: Musa Company's inventory balances for the beginning and ending of 2004, using both variable costing and absorption costing, are shown below:   Variable costing income for 2004 was $3,460. Musa uses LIFO. If absorption costing had been used, income for 2004 would be A)  $3,420 B)  $3,620 C)  $3,500 D)  $3,660 Variable costing income for 2004 was $3,460. Musa uses LIFO. If absorption costing had been used, income for 2004 would be


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