请问一道LIFO和FIFO的问题 company, president, determine, accounting

simonwoo

Patch Grove Nursery uses the LIFO inventory accounting method. Maria Huff, president, wants to determine the financial statement impact of changing to the FIFO accounting method. Selected company information follows:

• Year-end inventory: $22,000
• Change in LIFO reserve: $1,000
• LIFO cost of goods sold: $18,000
• After-tax income: $2,000
• Tax rate: 40%

Under FIFO, the nursery’s ending inventory and after-tax profit for the year would have been:

FIFO ending inventory

FIFO after-tax profit

A) $18,000 $2,600

B) $26,000 $1,400

C) $26,000 $2,600

为什么选C

leewhite

回复 1# simonwoo


   由第二个答案，确定选a或者c，然后对第一个，因为lifo reserve为正数，那么fifo 存货肯定大于lifo存货，所以选c

fekrogzenium

LIFO After-tax income<FIFO after-tax income, 排除 B

Year-end inventory, LIFO cost of goods sold,  FIFO ending inventory>$22,000 排除A

所以选C

fekrogzenium

LIFO After-tax income<FIFO after-tax income, 排除 B

Year-end inventory, LIFO cost of goods sold,  FIFO ending inventory>$22,000 排除A

所以选C

jzcaris

实在是高！