Fill in the Blanks Below to Indicate Which Inventory Costing

question 44

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.
$\begin{array}{lr}&\text { FIFO }&\text { LIFO }\\\text {Cost of Goods Sold }&\_\_\_\_&\_\_\_\_\\\text { Ending inventory}&\_\_\_\_&\_\_\_\_\\\text { Net Income }&\_\_\_\_&\_\_\_\_\\\text { Inventory Turnover }&\_\_\_\_&\_\_\_\_\\\text { Days to sell }&\_\_\_\_&\_\_\_\_\\\end{array}$

---

Definitions:

Developmental Milestones

Key skills or activities, such as walking or talking, that mark significant progress in a child's growth.

Fine Motor Development

The progression of the ability to use small muscles, particularly in the hands and fingers, allowing for activities such as writing, grabbing, and manipulating small objects.

Pincer Grasp

The coordination of index finger and thumb to hold an item, an important developmental milestone in infants.