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goldenfox [79]
1 year ago
5

Contrast the effects of LIFO versus FIFO on reported assets (i.e., the ending inventory) when

Business
1 answer:
ozzi1 year ago
5 0

LIFO and FIFO have opposite effects on the amount of inventory shown on the asset side of the balance sheet. Ending inventory is based on either the oldest unit price or the latest unit price, depending on the method used.

FIFO the ending inventory is calculated with the latest unit price, with LIFO the ending inventory is calculated with the oldest unit price. Therefore, when the price increases, the ending inventory reported on the balance sheet will be higher for his FIFO than for LIFO.

Conversely, if the price is falling, the closing inventory on the balance sheet will be higher in his LIFO than in FIFO.

Learn more about FIFO and LIFO brainly.com/question/13510592

#SPJ4

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lidiya [134]

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A sunk cost is the correct answer to this question.

Explanation:

Sunk cost:- Sunk costs are those expenses that have been accumulated in the past and are thus in some way unrelated to judgment-making.

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3 years ago
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This ration is very important to lenders because they use it to know of you will be able to meet the interest payment and principal

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