8.Gringo Company has just been formed and is deciding on its accounting policies for the first time. It wants an inventory costing flow assumption that results in the lowest reported profits. Prices have been falling for the past two years and there is no end in sight to this trend. Dingo would select the:<\/p>
Retail method<\/p>
LIFO method<\/p>
Gross profit method<\/p>
FIFO method<\/p>
Average cost method<\/p>", "transcribed_text": "", "related_book": { "title": "Survey of Accounting", "isbn": "9780077392659, 978-0-07-73417, 77392655, 0-07-734177-5, 73379557, 978-0073379555", "edition": "2nd edition", "authors": "Edmonds, old, Mcnair, Tsay", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/76.jpg", "uri": "\/textbooks\/survey-of-accounting-2nd-edition-76", "see_more_uri": "" }, "free_related_book": { "isbn": "3319382764", "uri": "\/textbooks\/landforms-and-landscape-evolution-of-the-equatorial-margin-of-northeast-brazil-an-overview-1st-edition-978-3319382760-165721", "name": "Landforms And Landscape Evolution Of The Equatorial Margin Of Northeast Brazil An Overview", "edition": "1st Edition" }, "question_posted": "2024-06-13 16:02:50", "see_more_questions_link": "\/study-help\/questions\/business-human-resource-management-2020-May-22", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/information-related-to-various-financial-statement-elements-is-provided-for-251280", "description": "Information related to various financial statement elements is provided for three cases: Case A Interest revenue was $ 43,500. 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