1a) What are the tell tale signs in the financial statements that a company is using periodic inventory method?

b)What is lifo liquidation and why is a temporary one not allowed to be reported in an interim financial statement?

c)Why do we need to annualize income in order to calculate an effective tax rate for an interim financial statement?

d)Why are gains and losses on sales of assets reported in the other items section below operating income on a multi step income statement?