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.
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