L2 Materials Flashcards
1
Q
During inflation FIFO results in?
rising prices
A
- Lowest value of issues
- Highest profits
- Cl. stock reflects most to current market prices
2
Q
During deflation FIFO results in?
Decreasing prices
A
- Highest value in issue
- Lowest profits
- Lowest value of cl inventory
3
Q
During inflation LIFO results in?
Rising Prices
A
- Highest value of issues
- Lowest profit
- Lowest value of cl inventory
4
Q
During deflation LIFO results in?
Decreasing prices
A
- Lowest value of issues
- Highest profits
- Cl. stock reflects most to current market prices
5
Q
A
