Problem

(L.OBJ. 1) Inventory accounting principles [5 min] Shepherd Cycles used the FIFO invent...

(L.OBJ. 1) Inventory accounting principles [5 min]

Shepherd Cycles used the FIFO inventory method in 2010. Shepherd Cycles plans to continue using the FIFO method in Future years.

Requirement

1. Which inventory principle is most relevant to Shepherd’s decision?

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