There Must Be a Periodic Physical Count by the Client

question 13

Multiple Choice

There must be a periodic physical count by the client of the inventory items on hand

• A) only if the client uses the LIFO method.
• B) only if the client uses a lower-of-cost-or-market method.
• C) regardless of the client's inventory valuation method.
• D) only if the client uses either the LIFO or FIFO method.

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