What are the effects on the income statement and balance sheet of each of the inventory cost flow

What are the effects on the income statement and balance sheet of each of the inventory cost flow

What are the effects on the income statement and balance sheet of each of the inventory cost flow assumptions—FIFO, LIFO, and average-cost? What are the tax effects of each method? Suggest when a company might choose to use each method.

Your initial posting should be 250-500 words

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