Using the dollar-value LIFO retail method for inventory:
A. Is the same as dollar-value LIFO, except that the inventory is measured at retail, rather than at cost.
B. Combines retail LIFO accounting with dollar-value LIFO accounting
C. Allows companies to report inventory on the balance sheet at retail prices.
D. All of the above are correct.
Answer: B. Combines retail LIFO accounting with dollar-value LIFO accounting
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