问题
单项选择题
Which accounting methods are preferable for income statements and balance sheets （）
A. LIFO for the balance sheet and FIFO for the income statement.
B. LIFO for both income statements and balance sheets.
C. LIFO for income statements and FIFO for the balance sheet.
答案
参考答案：C
解析：
LIFO allocates the most recent prices to the cost of goods sold and provides a better measure of current income. For balance sheet purposes, inventories based on FIFO are preferable since these values most closely resemble current cost and economic value.