Why Are Some U

question 15

Multiple Choice

Why are some U.S.companies opposed to elimination of the LIFO inventory method?

• A)Inventory amounts are more difficult to calculate under FIFO.
• B)LIFO most likely matches actual flow of inventory.
• C)Increased tax burden.
• D)Most international companies use LIFO.

---

Definitions:

Price Of Steel

The cost or market rate at which steel is bought or sold, influenced by demand, supply, production costs, and global market trends.

Price Of Gasoline

The cost per unit volume of gasoline, which can vary depending on factors such as oil prices, taxes, and demand.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded, often considered the resting point of the market.

Equilibrium Quantity

The quantity at which the amount of goods supplied is equal to the amount of goods demanded.