Q24. Carlton Company uses the LIFO inventory method, but most of the other companies in Carlton's industry use FIFO; Which of the following best describes one of the adjustments that would be made to Carlton's financial statements to compare Canton with other companies in the industry? An increase in Canton's LIFO reserve for the year would be: A.. added to ending inventory. B. Added to cast of goods sold. C. Subtracted from ending inventory. D. Subtracted from cost of goods sold.
答案和详解如下：
Q.24. D Study Session 9-40,b An increase in the LIFO reserve would be subtracted from cost of goods sold to equal cost of goods sold on a FIFO basis.
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发表于 2007-11-7 09:49
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