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Seudónimo
02-03-2021
Business
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What does the phrase “last in, first out” mean?
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aaliyah672710
aaliyah672710
02-03-2021
It’s used to account for inventory. It record the most recent produced items as sold first. It records how the newest item made is the first to be sold. Last in first out is used during inflation as a way to reduce income tax.
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