Question: Would it be alternative A because I did used current assets by inventory and it gave he lowest number compared to the others so does
1. Your new company is considering whether to report inventory under FFO, LFO Average Cost and the accounting department has brought you the following three alternatives. Assuming prices were dectining when the inventory was purchased,wch atternative uses FIFO? (circle your answer Alternative A Alternative Aiternative C Account Cash Accounts Receivable 375,000 $150,000 75,000 400,000 150,000 75,000 75,000 $150,000 75,000 75,000 Marketable Securities 350,000 175,000 00,000 175,000 1,075,000 Inventory Other Current Assets 175,000 Total Current Assets 1,175,000 L1, 125,000 Alternative B Alternative C Alternative A
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