EF9:02 958 + a. O 7. In periods of falling purchase prices and increasing inventory quantities, LIFO results in a than either FIFO or the weighted average cost-flow assumption. higher cost of goods sold; lower reported periodic income; lower current income taxes b. lower cost of goods sold; lower reported periodic income; lower current income taxes c. higher cost of goods sold; higher reported periodic income; lower current income taxes d. higher cost of goods sold; higher reported periodic income; higher current income taxes a lower cost of goods sold; higher reported periodic income; higher current income taxes 8. Benezra S.A., a large Brazilian petrochemical company, reported a balance of R$1,600 million in Accounts Receivable at the beginning of 2009 and R$1,500 million at the end of 2009. Its income statement reported total Sales Revenue of R$ 12,000 million for 2009. Assuming that Benezra makes all sales on account, compute the amount of cash collected from customers during 2009. e. a. 12,000 b. 11,900 c. 12,100 d. 13,600 e. 13,500 7. In periods of falling purchase prices and increasing inventory quantities, LIFO results in a than either FIFO or the weighted average cost-flow assumption. a. higher cost of goods sold; lower reported periodic income; lower current income taxes b. lower cost of goods sold; lower reported periodic income; lower current income taxes e. c. higher cost of goods sold; higher reported periodic income; lower current income taxes d. higher cost of goods sold; higher reported periodic income; higher current income taxes a lower cost of goods sold; higher reported periodic income; higher current income taxes 8. Benezra S.A., a large Brazilian petrochemical company, reported a balance of R$1,600 million in Accounts Receivable at the beginning of 2009 and R$ 1,500 million at the end of 2009. Its income statement reported total Sales Revenue of R$12,000 million for 2009. Assuming that Benezra makes all sales on account, compute the amount of cash collected from customers during 2009. a. 12,000 b. 11,900 c. 12,100 d. 13,600 e. 13,500 osts have been rising and inventory