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Why will the traditional lifo inventory costing method

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Reference no: EM131113687

1. What is the dollar-value method of LIFO inventory valuation? 

2. What advantage does the dollar-value method have over the specific goods approach of LIFO inventory valuation? 

3. Why will the traditional LIFO inventory costing method and the dollar-value LIFO inventory costing method produce different inventory valuations if the composition of the inventory base changes? 

Reference no: EM131113687

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