f. It has been said that LIFO inventory is relatively useless, uninformative, and removed from reality. Do you agree with that statement? Please explain your position.

g. Calculate the proportion of the replacement cost (LIFO method) to the carrying value (method other than LIFO) for each year for your company.

i. What conclusions can you draw from your calculations in parts g and h? Do they support those who say that LIFO is relatively useless and removed from reality? Are your calculations consistent with your expectations outlined in part f

CONSOLIDATED BALANCE SHEETS Liabilities and equity Current liabilities: See Notes to Consolidated Financial Statements CONSOLIDATED BALANCE SHEETS Liabilities and equity Current liabilities: See Notes to Consolidated Financial Statements