Inventory Flashcards
1
Q
INVENTORY PRICING IMPACTS
A
PRICING IMPACTS
RISING PRICES – Inflactionary Period
End Inventory COGS Gross Profit Net Income
FIFO High Low High High
LIFO Low High Low Low
FALLING PRICES
End Inventory COGS Gross Profit Net Income
FIFO Low High Low Low
LIFO High Low High High
