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Which of the following inventory costing methods will always result in the same values for ending inventory and cost of goods sold regardless of whether a perpetual or periodic inventory system is used?Select one:a. FIFO and LIFOb. LIFO and weighted-average costc. Specific identification and FIFOd. FIFO and weighted-average coste. LIFO and specific identification

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TomShelby

Answer:

c. Specific identification and FIFO

Explanation:

Under FIFO company will pick the oldest unit regardless of the method, so it will do no difference while, LIFO under perpetual inventory "jumps" after a purchase to use first these units, leaving portions of previous sales behind.

Under specific identificaion, eahc unit has his own cots. regardless of the method, when selling the COGS will be the specific cost for this units .

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