题目内容

Given the following data, calculate the cost of ending inventory using the LIFO costing method.

A. $2,069
B. $2,274
C. $2,425
D. $1,940

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Given the following data, by how much would taxable income change if FIFO is used rather than LIFO?

A. Decreaseby$19,000
B. Increaseby$20,000
C. Increaseby$19,000
Decreaseby$20,000

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Given the following data, what would the income tax amount be if the company uses FIFO?

A. $8,960
B. $10,200
C. $13,440
D. $6,800

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Given the following data, what would the net income after taxes be if the company uses LIFO?

A. $8,960
B. $12,720
C. $13,440
D. $6,800

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ThedisclosureprinciplerequiresthatmanagementpreparefinancialreportsthatdiscloseallofthefollowingtypesofinformationEXCEPT:

A. informationthatisrelevanttodecisionmaking.
B. forecastsofexpectedfutureearningstohelpinvestorsdecidewhethertoinvestinthecompany.
C. themethodofinventoryused.
D. informationthatfacilitatescomparisonwithothercompanies'financialreports.

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Given the following data, calculate the cost of ending inventory using the LIFO costing method.

A. $2,069 B. $2,274 C. $2,425 D. $1,940

Given the following data, by how much would taxable income change if FIFO is used rather than LIFO?

Given the following data, what would the income tax amount be if the company uses FIFO?

Given the following data, what would the net income after taxes be if the company uses LIFO?

ThedisclosureprinciplerequiresthatmanagementpreparefinancialreportsthatdiscloseallofthefollowingtypesofinformationEXCEPT:

A. $2,069
B. $2,274
C. $2,425
D. $1,940