A LIFO Liquidation During Periods When Prices Are Increasing Results

question 39

Multiple Choice

A LIFO liquidation during periods when prices are increasing results in a company:

• A) recording a large inventory write down.
• B) recording higher earnings than it would have if it had used FIFO.
• C) recording lower earnings than it would have if it had used FIFO.
• D) having operational s,but no financial statement effects.

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Waiter

A person who serves food and drinks to customers in restaurants, playing a key role in ensuring a pleasant dining experience.

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