Us gaap and international accounting standards

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One of the primary differences between U.S. GAAP and international accounting standards is that the use of LIFO is permitted for U.S. companies. How does LIFO affect a company's financial results? In your opinion, should LIFO be a permitted inventory costing method? Why might companies that currently use LIFO oppose its elimination? Support your conclusions with research.

Reference no: EM13767486

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