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Congo Co. Inventory Valuation and Income Statement

The management of Congo Co. asks your help in determining the comparative effects
of the FIFO and LIFO inventory cost flow methods. For 2002, the accounting records show the
following data.


Solution Summary

The solution included a step by step solution in excel format that shows the calculation of cost of Goods Sold under FIFO and LIFO. The word document addresses the questions about Congo Company's question about different inventory valuation methods.