Company a is identical to company b in every regard except, Ask an Expert

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Company A is identical to Company B in every regard except that Company A uses FIFO and Company B uses LIFO. In an extended period of rising inventory costs, Company A's gross profit and inventory turnover, compared to Company B's, would be:

a) higher higher

b) higher lower

c) lower higher

d) lower lower

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M976953

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