Answer:
1) FIFO method
2) LIFO method
Explanation:
1) The cost flow method which would result in the highest inventory amount for the balance sheet is the FIFO method because in this method the inventory which is bought first is expensed first as cost of goods sold and the inventory bought later is still considered as part of the inventory, because prices increase over time, and inventory which is bought later is more expensive, using the FIFO method would result in the highest amount of inventory because the inventory purchased later would be more expensive.
2) The cost flow method which would result in the highest cost of goods sold would be the LIFO method because in this method the inventory which is bought the last is expensed first as cost of goods and sold and because inventory bought later is more expensive, by using this method the cost of goods sold will have a higher value.
The honeymoon period for a newly elected president in America refers to the period early in the president's first term in office, when his popularity is high. The honeymoon period usually lasts between four and six months.
The three objectives of monetary policy are :
-controlling inflation
-managing employment levels
-maintaining long term interest rates.
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