The Use of LIFO Rather Than FIFO for Inventory Costing

question 34

Multiple Choice

The use of LIFO rather than FIFO for inventory costing under normal economic conditions results in:
I. lower net income.
II. higher total assets.
III. gher retained earnings.
IV. unchanged retained earnings.

• A) II and III
• B) I, II and IV
• C) I only
• D) I and IV

Grasp the economic rationale behind international price differentiation by monopolies.

Understand how production constraints and input costs influence monopolistic production and pricing strategies.

Examine how demand distinctions based on demographic factors influence monopolistic price discrimination.

Understand the concept of market segmentation and its impact on pricing strategies.