In a period of increasing prices, why would the company tax accountant prefer the last in

In a period of increasing prices, why would the company tax accountant prefer the last in

DQ #1

In a period of increasing prices, why would the company tax accountant prefer the last in, first out method while the CEO would prefer first in, first out? Why is this important?

DQ#2

What are the key internal controls that should be in place to protect inventory for a merchandiser that sells highly-desirable and expensive inventory such as jewelry? Would this be different if the business had a less-desirable and less-expensive inventory?

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DQ #1

The type of accounting technique used to manage inventory in an organization determines its profitability especially with fluctuations in price. For the tax accountant, Last In, First Out (LIFO) method would be more profitable……….

APA

183 Words