Inventory Cost Flow Assumptions & Interpretation of GAAP and Ethical Issues

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Inventory Cost Flow Assumptions & Interpretation of GAAP and Ethical Issues Page 1 Inventory Cost Flow Assumptions Compare and contrast the different inventory cost flow assumptions. Explain the consequences that result from the use of alternative inventory cost flow assumptions. Page 2 Interpretation of GAAP and Ethical Issues Based on the information contained in Case C7-6: Interpretation of GAAP and Ethical Issues, could a LIFO liquidation profit create ethical issues? Defend your position.