Inventory levels decreased from 2008 to 2009 for all of the following reasons except: A. LIFO liquidation.

Question:

Inventory levels decreased from 2008 to 2009 for all of the following reasons except:

A. LIFO liquidation.

B. sales volume decreased.

C. fluctuations in foreign currency translation rates.


ZP Corporation is a (hypothetical) multinational corporation headquartered in Japan that trades on numerous stock exchanges. ZP prepares its consolidated financial statements in accordance with U.S. GAAP. Excerpts from ZP’s 2009 annual report are shown in Exhibits J−L.

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International Financial Statement Analysis CFA Institute Investment Series

ISBN: 9780470287668

1st Edition

Authors: Thomas R. Robinson, Hennie Van Greuning CFA, Elaine Henry, Michael A. Broihahn, Sir David Tweedie

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