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What happens when a firm uses the LIFO inventory cost flow assumption?
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What method of inventory cost flows is the cost flow assumed in reverse order?
THERE ARE THREE METHODS OF INVENTORY COSTS FLOW. 1: LIFO=first in first out 2; LIFO= last in first out 3: AVERAGE method and your answer is LIFO
What inventory cost method is often adopted because of income taxes?
lifo
Which inventory method assigns the most recent costs to the cost of the good sold?
LIFO
Under which method of inventory cost flows is the cost flow assumed to be in reverse order in which expenditures were made?
LIFO
What inventory cost methods results in lowest net income during a period of rising inventory costs?
Last-in, first-out (LIFO)
What is lower inventory cost?
Are you asking for the method of the lower inventory cost? If so it would be the Lifo method using the assumption that in the rising price economy you paid more for the goods that were brought in last.
Does Target use the lifo fifo or average-cost inventory method?
fifo
What method of inventory cost flows is the cost flow assumed in reverse order?
THERE ARE THREE METHODS OF INVENTORY COSTS FLOW. 1: LIFO=first in first out 2; LIFO= last in first out 3: AVERAGE method and your answer is LIFO
When the cost of inventory is rising which inventory cost flow method will produce the lowest amount of cost of goods sold?
LIFO
What inventory valuation model minimize income tax when cost are rising?
lifo
What inventory cost method is often adopted because of income taxes?
lifo
Which inventory method assigns the most recent costs to the cost of the good sold?
LIFO
What is the inventory method that charges the most recent cost incurred against revenue?
LIFO
With inflation what are the implications of using LIFO and FIFO inventory methods and how do they affect the cost of goods sold?
LIFO inventory valuation assumes the latest purchased inventory becomes part of the cost of goods sold, while the FIFO method assigns inventory items that were purchased first to the cost of goods sold. In an inflationary environment, the LIFO method will result in a higher cost of goods sold figure and one that more accurately matches the sales dollars recorded at current dollars.
Under which method of inventory cost flows is the cost flow assumed to be in reverse order in which expenditures were made?
LIFO
What inventory cost methods results in lowest net income during a period of rising inventory costs?
Last-in, first-out (LIFO)
What is the inventory method that assigns the most recent costs to cost of good sold?
LIFO - Last In First Out
