1. As the corporation considers whether to continue using LIFO in future periods or switch to FIFO, what factories should be considered? Are there one or two single compelling reasons why they should choose either of the options?

2. If they were to change to FIFO - how will that impact the balance sheer and income statement?

3. Let's say that we experienced an increased level of inflation in future period's with price rising more quickly than average. How would you consider this factor as you decide which method to use?

4. Are there any challenges to using LIFO as the method to handle your inventory accounting?

5. As the CFO - which path would you choose?