Question
In a period of falling prices, a firm reporting under
LIFO compared to reporting under FIFO, will have a higher ______Solution
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.Â
What is the largest man-made lake in India?
Lawe Dhura is a pass, it is situated in which of the following district of Uttrakhand
The ‘Luddi Dance’ is a famous dance of which state?
What is purchasing power parity (PPP)
Acid Rain is caused due to air pollution by:
What is India's rank in Inclusive Development Index among emerging economies, recently released by World Economic Forum (WEF)?
Which Article of the Indian Constitution prohibits discrimination on the grounds of religion, race, caste, sex and place of birth?
Who won the inaugural Tata Open Maharashtra tennis trophy?
________________ is situated at the confluence of Lastar River and Mandakini River.
Who commissioned the construction of the Kailasanathar Temple?
