Discussion Forum – Inventory Costing MethodsI want posts to this questions.1. For your Initial Entry Post (IEP) Choose from FIFO, LIFO, Specific Item, and Weighted Average ‘Cost Flow Assumption’ and explain how it works. Support this idea with a reference from your text book!2) For your Response Posts (RP’s) post the name of a specific company on a classmates thread and ask them which cost flow assumption methodology would be most appropriate in times of rising prices (inflation).
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