Alpha company has been using LIFO method of materials pricing for 15 years. Its 2008 closing inventory
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Alpha company has been using LIFO method of materials pricing for 15 years. Its 2008 closing inventory was Rs. 15,000 but it would have been Rs. 26,000 if FIFO had been used. Thus, if FIFO had been used, this company's net income before taxes would have been
(a) Rs. 11,000 less over 15-year period
(b) Rs. 11,000 greater over 15-year period
(c) Rs. 11,000 greater in 2008
(d) Rs. 11,000 less in 2008
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