The writer is very fast, professional and responded to the review request fast also. Thank you.
1. In periods of rising prices, the inventory costing method which results in the inventory value on the balance sheet that is closest to current cost is theFIFO method.LIFO method.average cost method.tax method.2. Two companies report the same cost of goods available for sale but each employs a different inventory costing method. If the price of goods has increased during the period, then the company usingLIFO will have the highest ending inventory.FIFO will have the highest cost of good sold.FIFO will have the highest ending inventory.LIFO will have the lowest cost of goods sold.3. If companies have identical inventoriable costs but use different inventory costing methods when the price of goods have not been constant, then thecost of goods sold of the companies will be identical.cost of goods available for sale of the companies will be identical.ending inventory of the companies will be identical.net income of the companies will be identical.4. In a period of increasing prices, which inventory costing method will result in the lowest amount of income tax expense?FIFOLIFOAverage CostIncome tax expense for the period will be the same under all assumptions.5. The managers of Tong Company receive performance bonuses based on the net income of the firm. Which inventory costing method would result in the highest bonuses for the managers in periods of rising prices?LIFOAverage CostFIFOPhysical inventory method
. In periods of rising prices, the inventory costing method which results in the inventory value onthe balance sheet that is closest to current cost is thea. FIFO method.b. LIFO method.c….
Show more
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more