Business, 17.04.2020 23:09 JDKozlova

Elliott Corporation's inventory on its balance sheet was lower using first-in, first-out than it would have been using last-in, first-out. Assuming no beginning inventory, in what direction did the cost of purchases move during the period?
a. Up.
b. Down.
c. Unchanged.
d. Can't be determined.

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Elliott Corporation's inventory on its balance sheet was lower using first-in, first-out than it wou...