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Unformatted text preview: flows) o Inventory reported on B/S at lower of cost or market o FIFO inventory = LIFO inventory + excess of FIFO over LIFO Property, plant, and equipment (fixed assets): o Show on B/S as book value minus accumulated depreciation o Depreciation methods: Straight line: Constant effect on NI over lifetime Accelerated: Higher depreciation expense early = pay less on taxes early Sum of years digits DDB Intangibles: o Goodwill: Stays same until it loses value Lost value goes to I/S as impairment expense...
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- Spring '11