Which inventory method producess the lowest income tax during a period of inflation? A. LIFO B. FIFO c> Weighted-average

Question

asked Jan 1, 2018 160k views

1 Answer

← Prev Question Next Question →

Ask a Question

Myonara · Answer 1 · 2018-01-05T05:30:41+0000

Hi there

The answer is
A. LIFO

the FIFO inventory costing method will produce a higher net income, and thus a higher tax liability, than the LIFO method

Hope it helps

Which inventory method producess the lowest income tax during a period of inflation? A. LIFO B. FIFO c> Weighted-average

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

Please log in or register to add a comment.

Related questions

Categories

Other Questions