Use the Internet to research the annual report of at least three (3) merchandising
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companies. Determine the costing method (Last In First Out [LIFO], First In First Out [FIFO], and weighted average) that is used to record inventory. Next, watch C. Pence’s Youtube video (Accounting Lecture 08 - Part 1). Identify the primary benefits in using the costing method (LIFO,
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