Elance Exams Answers PDF file

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True or False: When you have inventory items, QB's automatically uses the Average Cost, but you can change it to LIFO or FIFO.

True. The inventory value is determined by dividing the total value of inventory by the total number of inventor items.
False, you don't have a choice of Inventory Valuations.
True, but you can only use LIFO or FIFO if you have QB's permission.
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