Fill in the Blanks Below to Indicate Which Inventory Costing

question 32

Essay

Fill in the blanks below to indicate which inventory costing method causes the value to be higher and which causes it to be lower.Assume that the cost of merchandise is decreasing.
$$\begin{array} { | l | l | l | } \hline & \text { FIFO } & \text { L.IFO } \\\hline \text { Cost of Goods Sold } & - & - \\\hline \text { Ending irventory } & - & - \\\hline \text { Net Income } & - & - \\\hline \text { Irventory Tumover } & - & - \\\hline \text { Days to sell } & - & - \\\hline\end{array}$$