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How much cash will it have paid

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Question - If a company reports an increase in A/P of $100 from the beginning to the end of an accounting period and purchases inventory worth $1,000, how much cash will it have paid to suppliers of inventory?

If a company reports a beginning LIFO reserve of $100 and ending LIFO reserve of $120, the Cost of goods sold of this company is greater than it would have been had this company used the FIFO valuation method?

Reference no: EM132976008

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