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Ch 16 Inventory Costing - Coggle Diagram

- - - - Water, sugar, and lemons (in their acquired form)
    - - Lemon chopped up and inserted in the lemonade making machine
        
        Sugar-water in a machine waiting to be used
        
        Lemonade that has been processed but is not yet in a salable condition
    - - Lemonade (in a salable condition)
- - - - Reduced political exposure: major oil companies use LIFO