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question 4a asks determine the difference in the ammount of income that thr company would...

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Accounting

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question 4a asks
determine the difference in the ammount of income that thr company would have reported if it had used the fifo method instead of the lifo method
A physical count of inventory on December 31 revealed that there were 520 units on hand. Answer the following independent questions. (Round average per unit cost to 2 decimal places, eg. 15.25 and other answers to decimal places, e.g. 1.525.) 1. Assume that the company uses the FIFO method. The value of the ending inventory at December 31 is 2. Assume that the company uses the Average-Cost method. The value of the ending inventory on December 31 is 3. Assume that the company uses the LIFO method. The value of the ending inventory on December 31s 4.(a) Determine the difference in the amount of income that the company would have reported if it had used the FIFO method ins Would income have been greater or less? 4. (b) Tothool and Media

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