Use the Following Information for Questions

question 59

Multiple Choice

Use the following information for questions.
Niles Co.has the following data related to an item of inventory:
-Emley Company has been using the average cost method of inventory valuation for 10 years, since it began operations.Its 2010 ending inventory was $40,000, but it would have been $60,000 if FIFO had been used.Thus, if FIFO had been used, Emley's income before income taxes would have been

• A)$20,000 greater over the 10-year period.
• B)$20,000 less over the 10-year period.
• C)$20,000 greater in 2010.
• D)$20,000 less in 2010.

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Definitions:

Ability

The possession of the means or skill to do something, often considered in context of physical, mental, or learned competencies.

Warm-up

Physical or preparatory activities performed before exercise or a performance to prevent injury and enhance efficiency.

High Intensity

A level of extreme exertion or concentration, often used to describe workouts or activities that require a significant amount of energy in a short period.

Baseline Functioning

refers to the normal operating level of an individual in physical, mental, or emotional aspects, serving as a comparison point for detecting changes or effects of interventions.