Assume the a for sure separately determined inventory under FIFO and LIFO and then compared the results.

You are watching: Why would management prefer to use lifo over fifo in periods of rising prices

a. In each space below, place the correct sign

(=)> because that each comparison, assuming durations of rising prices.


FIFO inventory

LIFO inventory


FIFO cost of items sold

LIFO cost of items sold


FIFO net income

LIFO net income


FIFO earnings tax

LIFO income tax

b. Why would management prefer to usage LIFO end FIFO in periods of climbing prices?

Jan 01 2021 12:08 PM

1 approved Answer


LAJU Manswered on January 03, 2021
5Ratings,(18 Votes)



FIFO inventory

> (greater than)

LIFO inventory

b. FIFO price of products sold

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