Retail Method vs. FIFO or LIFO

Feb 3rd, 2012
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Ashford University
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In the case, the University Store provided plenty of goods and services with various costs. They frequently have their costs, selling prices and discounted prices changed. This process would contain a large amount of work since the Store kept large number of books.

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?Retail Method vs. FIFO or LIFOIn the case, the University Store provided plenty of goods and services with various costs. They frequently have their costs, selling prices and discounted prices changed. This process would contain a large amount of work since the Store kept large number of books. Although the Store has planned to record data by establishing a new software system, they used the retail method easing and simplifying inventory tracking. Comparing the FIFO or the LIFO method, the retail method would be the better to value inventory with two major reasons. One reason is that GAAP

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