Accounting Procedures Allow a Business to Evaluate Their Inventory at LIFO

question 30

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 $ thousands) for five products both ways. Based on the following results, is LIFO more effective in keeping the value of his inventory lower?
If you use the 5% level of significance, what is the critical t value?

• A) +2.132
• B) \(\pm\)2.776
• C) +2.262
• D) \(\pm\)102.228

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