The first - at the time of sale The earliest purchases on...

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The first-in, first-out method yields the same result whether the company uses a periodic  or perpetual system. Under the perpetual system, the first-in, first-out method is applied 
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Unformatted text preview: at the time of sale. The earliest purchases on hand at the time of sale are assumed to be sold....
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This note was uploaded on 11/16/2011 for the course ACCT 2310 taught by Professor Staff during the Spring '09 term at Texas State.

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