See-Saw Ltd Uses Moving Weighted Average for Its Inventory,which Is

question 10

Multiple Choice

See-Saw Ltd uses moving weighted average for its inventory,which is valued at $276 000.It is considering a change to FIFO,which would decrease the valuation to $245 000.Which of the following would be increased by the change?

• A) retained profits
• B) income tax payable
• C) cost of goods sold
• D) sales.

---

Definitions:

Counterproposal

A proposal offered in response to one previously made, often as a form of negotiation or compromise.

Engineering Graduate

An individual who has received a degree in engineering from a college or university.

Constructive Criticism

Feedback intended to provide helpful and specific suggestions for improvement in a positive manner.

Demonstrate Authority

Showing expertise or command over a particular subject area or topic, often to persuade or inform others.