问题
单项选择题
Use the following data related to MCE Corp’s inventory to answer
Assume no beginning inventory. Sales were $4500.
Calculate gross profit using LIFO and FIFO: LIFO FIFO（）①A. $ 2260 $ 2110 ②B. $ 2390 $ 2240 ③C. $ 2110 $ 2260
A. ①
B. ②
C. ③
答案
参考答案：B
解析：
LIFO: Remember the COGS is BI + purchases-El or (0+2710-600)=2110.4500-2110= 2390. FIFO: 4500-(0+2710-450)=2240. Gross profit is higher under LIFO because costs have been falling.