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Which inventory method producess the lowest income tax during a period of inflation? A. LIFO B. FIFO c> Weighted-average
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Jan 1, 2018
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Which inventory method producess the lowest income tax during a period of inflation? A. LIFO B. FIFO c> Weighted-average
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Rui Carvalho
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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
Myonara
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Jan 5, 2018
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