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The values of the foreign exchange currency are fixed by the FX market or, the foreign market which has been spread across the globe and the relative values of the different currencies are determined by ...
One of the major differences with GAAP and IFRS in regards with inventory is the fact that IFRS does not allow the use of LIFO. GAAP allows the use of FIFO, LIFO, and weighted average. While IFRS only allows the use of FIFO and weighted average. These methods effect net income, which can increase or
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