Comparing inventory methods assume that a firm separately determined inventory under fifo and lifo and then compared the results. a. in each dropdown that follows, select the correct sign [less than ( < ), greater than (> ), or equal (=)] for each comparison, assuming periods of rising prices. 1. fifo inventory lifo inventory 2. fifo cost of goods sold lifo cost of goods sold 3. fifo net income lifo net income 4. fifo income taxes lifo income taxes b. why would management prefer to use lifo over fifo in periods of rising prices? income shown on the company’s tax return would be lower if lifo rather than fifo is used. income shown on the company’s tax return would be higher if lifo rather than fifo is used. cost of goods sold shown on the company’s income statement would be lower if lifo rather than fifo is used. dividends shown on the company’s financial statements would be higher if lifo rather than fifo is used.

Captain john's yachts, inc., located in fort lauderdale, florida, rents three types of ocean-going boats: sailboats, cabin cruisers, and captain john's favorite, the luxury yachts. captain john advertises his boats with his famous "you rent"we pilot" slogan, which means that the company supplies the captain and crew for each rented boat. each rented boat has one captain, of course, but the crew sizes (deck hands, galley hands, etc.) differ. the crew requirements, in addition to a captain, are one for sailboats, two for cabin cruisers, and three for yachts. ten employees are captains, and an additional 18 employees fill the various crew positions. currently, captain john has rental requests for all his boats: four sailboats, eight cabin cruisers, and three luxury yachts. if captain john's daily profit contribution is $50 for sailboats, $70 for cruisers, and $100 for luxury yachts, how many boats of each type should he rent?

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Two products, qi and vh, emerge from a joint process. product qi has been allocated $34,300 of the total joint costs of $55,000. a total of 2,900 units of product qi are produced from the joint process. product qi can be sold at the split-off point for $11 per unit, or it can be processed further for an additional total cost of $10,900 and then sold for $13 per unit. if product qi is processed further and sold, what would be the financial advantage (disadvantage) for the company compared with sale in its unprocessed form directly after the split-off point?