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Accounting
> Moving to another question will save this response O n 31 of 38 Question 31 2 ports Sever Assume that Arthur Couses the LIFO inventory costing method for both tax and financial reporting purposes. The balance sheet reports inventories at 5297 million. Then, in its footnotes, the company reports that inventories would have been $327 million had the company used the FIFO method. The difference between these two numbers ($30 million) is referred to as ALIFO reserve LITO conformity rule C LIFO holding gain D. Inventory temporary difference E None of the above Question 33 Why might a company repurchase its own stock? A It believes that the market undervalues its shares B. To offset dilutive effects of employee stock options granted C. To recognize an economic gain when the treasury shares are later sold for a profit OD. To improve earnings per share by reducing the denominator E. All of the above are correct
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