Question: Bramble Company is considering changing its inventory valuation method from FIFO to LIFO because of the potential tax savings: However, management wishes to consider all
Bramble Company is considering changing its inventory valuation method from FIFO to LIFO because of the potential tax savings: However, management wishes to consider all of the effects on the company, including its reported performance, before making the final decision. The inventory account, currently valued on the FIFO basis, consists of units at $ per unit on January There are shares of common stock outstanding as of January and the cash balance is $ The company has made the following forecasts for the period Cash payments for additions to and replacement of plant and equipment in thousands of dollarsOperating expenses exclusive of depreciation as a percentage of sales a Compute the following data for Bramble Company under the FIFO and the LIFO inventory method for Assume the company would begin LIFO at the beginning of Enter amounts in thousands. Round earnings per share values to decimal places, Round other answers to decimal places, eg Yearend inventory balances. Annual net income after taxes. Earnings per share. Cash balance. Assume all sales are collected in the year of sale and all purchases, operating expenses, and taxes are paid during the year incurred.Yearend inventory balances
a Compute the following data for Bramble Company under the FIFO and the LIFO inventory method for Assume the
company would begin LIFO at the beginning of Enter amounts in thousands. Round earnings per share values to decimal places, eg
Round other answers to O decimal places, eg
Yearend inventory balances.
Annual net income after taxes.
Earnings per share.
Cash balance.
Assume all sales are collected in the year of sale and all purchases, operating expenses, and taxes are paid during the year incurred.
Yearend inventory
balances
Annual net income
after taxes
Please don't miss any line
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