Abstract
Biddle's study is an attempt to demonstrate empirically an association between LIFO adoption decisions and properties of year-end inventory levels. My comments on the study are divided into five main topics. In the first part, I examine the hypotheses generated. The second part consists of a discussion of the model used to generate these hypotheses. In the third part, I examine the experimental design, and in the fourth, I discuss the test results. I conclude by giving some suggestions for further tests of the hypotheses.
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