Evaluation of Inventory

Evaluation of Inventory

From the e-Activity(Go to the American Accounting Association Website, located athttp://aaahq.org/ascLogin.cfm, to research the various inventory methods. Be prepared to discuss. Note: Obtain the user name and password for the AAA Website from your professor. Once logged in, click “FASB Accounting Standards Codification” to access the Website. User ID: AAA51880 Password:  Km5F9Up ) , discuss the primary advantages and disadvantages of using dollar-value LIFO, as compared to specific goods. Imagine you are an accounting consultant hired by management. Recommend to management the method most beneficial during periods of inflation. Support your recommendation with specific examples of the method that is beneficial during periods of inflation.

 

  • Imagine that the management at your company is considering a switch from first-in, first-out (FIFO) to LIFO. Briefly explain to management the inventory profits and the conditions that must exist in order to make such a switch to the LIFO feasible. Also, suggest key reasons why the company should not switch to LIFO. Explain the rationale for your suggestions

 

 

 

Answer not yet available

To have this questions done by our pool of professional writers, kindly send us an email. 

Email to support@yourhomeworksolutions.com

You can also browse for similar questions here

 

About

Yourhomeworksolutions is a one-stop-shop for all your homework needs. You can purchase already completed solutions to be used as samples and you can order assignments to be done afresh by our competent writers.