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Explain the Theory Behind Convergence and Why It Is a "Deceptively

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Essay

Explain the theory behind convergence and why it is a "deceptively simple" theory.


Definitions:

FIFO Perpetual

An accounting method where goods are sold based on the order they were purchased or produced; "FIFO" stands for "first in, first out," and "perpetual" means the inventory records are updated continuously.

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