If inventory is being valued at cost and the price level is steadily rising, discuss which of the two methods of costing FIFO or LIFO will yield: [a] the highest inventory cost, [b] the lowest inventory cost, [c] the highest gross profit, or [d] the lowest gross profit.

The third program provides families with $50 in food stamps each week, redeemable for both perishable and nonperishable food. the fourth policy instead provides a family with a box of nonperishable foods each week, worth $50. use two graphs to illustrate that a family may be indifferent between the two programs, but will never prefer the $50 box of nonperishable foods over the $50 in food stamps. state your answer and use a consumer choice model for perishable food and nonperishable food to graphically justify your choice.