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Determine which of the following statements are correct regarding the difference between physical flow and the cost flow of goods
a. Perishable items must have an actual physical flow of FIFO
b. A business may adopt any cost flow assumption when accounting for perishable items
c. Cost flow is an assumption about which goods/times are sold
d. Physical flow is focused on the actual movement of goods
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Determine which of the following statements are correct regarding the difference between physical fl...
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