11 Consider the possibility that, for Company PQR you want to convert the LIFO Cost of Goods Sold Expense and Ending Inventory to the FIFO Cost of Goods Sold Expense and Ending Inventory The reason you would do this is It would be support for the Deferred Income Tax account b It would be a way to see if Company PQR follows the LIFO Conformity Rule c It would be helpful in order to compare Company PQR with Company XYZ, which uses the FIFO method d It is really fun to do this 12 You would see Work in Process Inventory on the balance sheet of e f Ford Motor Company Target J C Penney KPMG, LLP g h

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11  Consider the possibility that, for Company PQR you want to convert the LIFO Cost of Goods Sold Expense and Ending Inventory to the FIFO Cost of Goods Sold Expense and Ending Inventory  The reason you would do this is  It would be support for the Deferred Income Tax account  b  It would be a way to see if Company PQR follows the LIFO Conformity Rule  c  It would be helpful in order to compare Company PQR with Company XYZ, which uses the FIFO method d  It is really fun to do this  12  You would see Work in Process Inventory on the balance sheet of  e  f Ford Motor Company Target J  C  Penney KPMG, LLP g h

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11. Consider the possibility that, for Company PQR you want to convert the LIFO Cost of Goods Sold Expense and Ending Inventory to the FIFO

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