Question

The following note was contained in a recent Ford Motor Company annual report:


Required:
1. What amount of ending inventory would have been reported in the current year if Ford had used only FIFO?
2. The cost of goods sold reported by Ford for the current year was $113,345 million. Determine the cost of goods sold that would have been reported if Ford had used only FIFO for both years.
3. Explain why Ford management chose to use LIFO for certain of itsinventories.


$1.99
Sales0
Views83
Comments0
  • CreatedJuly 01, 2014
  • Files Included
Post your question
5000