Compared to using the FIFO method to account for inventory, during periods of rising prices, a company using the LIFO method is most likely to report higher: A.net income. B.cost of sales. C.income taxes. 相关知识点: 试题来源: 解析 B B is correct. The LIFO method increases cost of...
Assume that the company uses the first-in, first-out (FIFO) method of inventory valuation. Under FIFO, how much conversion cost did A.P.Hill transfer out of Department Two during FebruaryA. $63,750 B. $64,148 C. $66,000 D. $74,500 正确答案:B 分享到: 答案解析: 请见视频解...
Ans:C. During a period of rising prices, ending inventory under LIFO will be lower than that of FIFO and cost of goods sold higher; therefore, inventory turnover (CGS/average inventory) will be higher. Reference: question No.1. "Inventories,” Michael A. Broihahn, CFA2011 Modular Level ...
解析 C "Inventories,” Michael A. Broihahn, CFADuring a period of rising prices, ending inventory under LIFO will be lower than that of FIFO and cost of goods sold higher; therefore, inventory turnover (CGS/average inventory) will be higher....
Assume that the company uses the first-in, first-out (FIFO) method of inventory valuation. Under FIFO, how much conversion cost did A.P.Hill transfer out of Department Two during February A. 63,750 B. 64,148 C. 66,000 D. 74,500 相关知识点: 试题来源: 解析 B 略 反馈 收藏 ...
A company has decided to switch from using the FIFO method of inventory valuation to using the average cost method (AVCO).In the first accounting period where the change is made, opening inventory valued by the FIFO method was 53,200. Closing inventory valued by the AVCO method was 59,...
Haltata Turf& Sod currently uses the first in, first out (FIFO) method to account for inventory. Due to significant tax-loss carryforwards, the company has a tax rate of zero. Currently prices are rising and inventory is stable or increasing. If the company were to use last in, first ...
While there is no one “right” inventory valuation method, every method has its own advantages and disadvantages. Here are some of the benefits of using the FIFO method, as well as some of the drawbacks. Pro: Higher valuation for ending inventory...
Which of the following best describes one of the adjustments that would be made to Sipex's financial statements to compare that company with other companies in the industry? To adjust Sipex's ending inventory to the FIFO method, the amount reported for Sipex's ending inventory ...
A company has decided to switch from using the FIFO method of inventory valuation to using the average cost method (AVCO). In the first accounting period where the change is made, opening inventory valued by the FIFO method was $53,200. Closing inventory valued by the AVCO method was $59...