Business, 29.08.2019 19:00 netflixacc0107
The wheat company has used the lifo method for inventory valuation since the start of business 15 years ago. the current year ending inventory is $375,000. if the fifo method of inventory had been used, the inventory would be $450,000. if wheat company had used the fifo inventory method, pre-tax income would have been:
a) $75,000 higher over the 15 year period
b) $75,000 lower over the 15 year period
c) $75,000 higherr in the current year
d) $75,000 lower in the current year
Answers: 1
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The wheat company has used the lifo method for inventory valuation since the start of business 15 ye...
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