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Which statements false regarding reason that inventory cost

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Reference no: EM132673990

Problem 1: Which of the following statements is false regarding the reason that inventory costs are recorded as expenses when sold rather than when incurred?

a. It helps the company achieve a better matching of expenses with related revenues.

b. It gives the company's accounting personnel more time to record inventory transactions.

c. It gives the user's of the company's financial statements a clearer picture of profitability.

d. Inventory is an asset at the time it is acquired.

Reference no: EM132673990

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