Start learning 50% faster. Sign in now
With falling prices, LIFO COGS (Cost of Goods Sold) will include the cost of lower-priced inventory and COGS will be less as compared to FIFO COGS. Because of this, the firm reports a higher gross profit margin (Gross Profit/sales) under LIFO than under FIFO, while LIFO inventory will be higher and inventory turnover lower.
Form 26AS provides which of the following details to a taxpayer?
What is the maximum loan limit under PMEGP for manufacturing businesses?
Which Adani Group company is included in the BSE Sensex on June 24?
“Revenues and expenses must be recorded in the accounting period in which they were earned or incurred, no matter when cash receipts or outlays occur�...
Which of the following financial services are offered by GIFT City?
1) Banking
2) Insurance
3) Asset Manag...
To mitigate concerns relating to model risk and significant variability in expected credit loss models, the Discussion Paper proposes the following miti...
Which of the following methods for calculating the Maximum Permissible Bank Finance (MPBF) considers the permanent level of current assets, also known a...
Which among the following is the act of taking on a risk for a fee?
What is the purpose of ethical standards?
Which of the following is not one of the pillars of Basel III?