51. Assume U.S. GAAP (generally accepted accounting principles) applies unless
otherwise noted.
The year-end balances in a company’s LIFO reserve are $56.8 million in the
company’s financial statements for both 2007 and 2008. For 2008, the measure
that will most likely be the same regardless of whether the company uses the LIFO
or FIFO inventory method is the:
A. inventory turnover.
B. gross profit margin.
C. amount of working capital.
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