1 Assuming increasing prices, the inventory cost flow assumption used by Amazon to value inventory a results in the same amount of total assets on the balance shest as average cost b results in leas total assets on the balance sheet than average costs c results in less total assets on the balance sheet than LIFO d results in more total assets on the balance sheet than LIFO 2 Amazon's inventory is accounted for using a LIFO b Specific identifaction c FIFO d Average cost 3 Assuming increasing prices, the inventory cost flow assumption used by Amazon to value inventory results in a the same amount of net income on the income statement as LIFO b more net income on the income statement than LIFO c less net income on the income statement than LIFO d less net income on the income statement than average cost

Question

1  Assuming increasing prices, the inventory cost flow assumption used by Amazon to value inventory  a  results in the same amount of total assets on the balance shest as average cost  b  results in leas total assets on the balance sheet than average costs  c  results in less total assets on the balance sheet than LIFO  d  results in more total assets on the balance sheet than LIFO  2  Amazon's inventory is accounted for using  a  LIFO b  Specific identifaction c  FIFO d  Average cost 3  Assuming increasing prices, the inventory cost flow assumption used by Amazon to value inventory results in  a  the same amount of net income on the income statement as LIFO  b  more net income on the income statement than LIFO  c  less net income on the income statement than LIFO  d  less net income on the income statement than average cost

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Question

1. Assuming increasing prices, the inventory cost flow assumption used by Amazon to value inventory: a. results in the same amount of total assets on

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