Accounting Procedures Allow a Business to Evaluate Their Inventory at LIFO

question 44

Multiple Choice

Accounting procedures allow a business to evaluate their inventory at LIFO (Last In First Out) or
FIFO (First In First Out) . A manufacturer evaluated its finished goods inventory (in $1000) for five
Products both ways. Based on the following results, is LIFO more effective in keeping the value of
His inventory lower?
What is the value of calculated t?

• A) +0.93
• B) ±2.776
• C) +0.0.47
• D) -2.028

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Definitions:

Self-Graphing

A self-assessment technique where individuals record and visually display data about their own behaviors over time.

Reactivity

The phenomenon where individuals alter their behavior or responses because they know they are being observed.

External Self-Reinforcement

A type of reinforcement paralleling that administered by a teacher. However, instead of the teacher delivering the reinforcer, the student performs this task.

Internal Reinforcement

The psychological process whereby an individual's intrinsic satisfaction from an activity encourages the continuation of that activity without external reward.