标题: is this an error, question 58, vol I, exam 3 aft session? [打印本页] 作者: sharksfan 时间: 2013-4-2 11:17 标题: is this an error, question 58, vol I, exam 3 aft session?
Periods of rising prices and stable increasing inventory quantities, compared with companies that use FIFO inventory accounting, companies that use the LIFO method will have:
A. higher COGS and lower taxes
B. higher net inc and higher taxes
C. lower inventory balances and lower working capital
I chose A, answer is B
thanks and apologies if this was already addressed作者: smartpants 时间: 2013-4-2 11:18
Yea it has to be an error, I think it was worded wrong作者: ramdabom 时间: 2013-4-2 11:18
From Errata (found on Schweser website):
Exam 3, Afternoon Session Page: 179 Correction
Question #58 should read as follows:
“In periods of rising prices and stable or increasing inventory quantities, compared with companies that use LIFO inventory accounting, companies that use the FIFO method will have:”
Posted: 20090420
