Company a Is Identical to Company B in Every Regard

question 4

Multiple Choice

Company A is identical to Company B in every regard except that Company A uses FIFO and Company B uses LIFO.In an extended period of rising inventory costs,which of the following is true of Company A compared to Company B?

• A)Company A's gross profit is lower and inventory turnover is lower.
• B)Company A's gross profit is higher and inventory turnover is higher.
• C)Company A's gross profit is higher and inventory turnover is lower.

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Definitions:

Automatically Accessed

Refers to data or resources that are retrieved or used by a program without explicit instructions from the programmer.

Data Type

A classification identifying one of various types of data, such as integer, floating-point, or string, that determines the possible values for that type, the operations that can be performed on it, and the way it is stored.

Scoping Rules

Guidelines that determine where variables and functions can be accessed within a program, influenced by where they are declared.

Symbolic Constants

Constants whose values are given meaningful names in code, making the code more readable and maintainable, typically defined using the #define directive in C/C++.