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1. Which of the following reduces a companys inventory cost? A. Sales Discounts B. Freight-In C. Freight-Out D. Purchase Dis3. Which of the following statements is true for companies that use the LIFO method for income tax purposes in the United Sta4. Which of the following statements is true for companies that use the FIFO method for income tax purposes in the United Sta8. Which of the following pairs of inventory costing methods will always yield the same amounts for their cost of goods sold

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Solution: All are individual qestions, although all have been answered: Answer are highlighted in yellow: Answer: 1) D. Purch

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