Business

Business, 11.07.2019 11:00, mistiehaas

Afirm has used lifo for several years during which costs have trended higher. if this firm achieves a substantial reduction in inventory quantities in 2017 by selling more merchandise than it purchases, the effect on 2017 net income of the inventory reduction, compared to having no change in inventory quantity from the beginning to the end of 2017, is:

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Business, 21.06.2019 23:30, rbriezz

The uno company was formed on january 2, year 1, to sell a single product. over a 2-year period, uno’s acquisition costs have increased steadily. physical quantities held in inventory were equal to 3 months’ sales at december 31, year 1, and zero at december 31, year 2. assuming the periodic inventory system, the inventory cost method which reports the highest amount for each of the following is inventory december 31, year 1/ cost of sales year 2 a: lifo fifo b: lifo lifo c: fifo fifo d: fifo lifo

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Business, 16.10.2019 00:20, clarisaguilar0

Comparing inventory methods assume that a firm separately determined inventory under fifo and lifo and then compared the results. a. in each dropdown that follows, select the correct sign [less than ( < ), greater than (> ), or equal (=)] for each comparison, assuming periods of rising prices. 1. fifo inventory lifo inventory 2. fifo cost of goods sold lifo cost of goods sold 3. fifo net income lifo net income 4. fifo income taxes lifo income taxes b. why would management prefer to use lifo over fifo in periods of rising prices? income shown on the company’s tax return would be lower if lifo rather than fifo is used. income shown on the company’s tax return would be higher if lifo rather than fifo is used. cost of goods sold shown on the company’s income statement would be lower if lifo rather than fifo is used. dividends shown on the company’s financial statements would be higher if lifo rather than fifo is used.

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Business, 01.11.2019 03:31, supiine1405

Comparing inventory methodsassume that a firm separately determined inventory under fifo and lifo and then compared the results.in each dropdown below, select the correct sign [less than (< ) greater than (> ), or equal(=)] for each comparison , assuming periods of rising prices.1. fifo inventory lifo inventory.2. fifo cost of goods sold lifo cost of goods sold.3. fifo net income lifo net income.4. fifo income taxes lifo income taxes.

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