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Accounting

Question: Assume you own a restaurant. What inventory costing method would you prefer, and why? Also, include a discussion as to whether the costing method you would use for your accounting records would follow the actual flow of your inventory.

NOTE: Keep in mind the choice of inventory COSTING method is an accounting decision, not an inventory MANAGEMENT decision. The accountant has no knowledge of the specific unit sold - only the date of purchase, the number of units purchased, and the cost per unit.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92801441

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