During a period of steadily increasing purchase costs, answer the following questions: a. Which inventory flow assumption results in the highest reported profits? The lowest taxable income? The valuation of inventory that is closest to current replacement cost? Briefly explain your answers. Maximum 100 words for this part of the question. b. If the Company’s manager earns a bonus based on a percentage of gross profit, which method of inventory costing will the manager likely prefer? Briefly explain your answer. Maximum 50 words for this part of the question. Company W has been using FIFO during a period of rising costs. Explain whether you would expect each of the following measurements to be higher or lower if the company had been using LIFO. c. Net income d. Income taxes expenses.
A. You're kidding! Hmm ... I hope he's not making a terrible mistake.
B. That' s good news.I hope I'll be able to take part in the journey.
C. Really? They are going on holiday again?
A、It's great.
B、I think so.
C、Thank you. I appreciate it very much.
D、You shouldn't be surprised.
A、they are away from their ordinary social context and supporting culture.
B、they are psychologically and geographically closer to the parent company.
C、they may be based in a culture that does not place the same value on ethical norms important in the manager's home country.
D、they may be surrounded by local employees who have less rigorous ethical standards.
A、articulates
B、investigates
C、communicates
D、defines
A、exemplified
B、excluded
C、explained
D、example
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