In presenting segment information, which of the following items must be reconciled to the entity's consolidated financial statements?

Operating Identifiable

Revenues Profit (Loss) Assets

a. Yes Yes Yes

b. No Yes Yes

c. Yes No Yes

d. Yes Yes No

A company that uses the last-in, first-out (LIFO) method of inventory pricing finds at an interim reporting date that there has been a partial liquidation of the base period inventory level. The decline is considered temporary and the partial liquidation is expected to be replaced prior to year end. The amount shown as inventory at the interim reporting date should

a. be shown at the actual level, and cost of sales for the interim reporting period should include the expected cost of replacement of the liquidated LIFO base.

b. be shown at the actual level, and cost of sales for the interim reporting period should reflect the historical cost of the liquidated LIFO base.

c. not give effect to the LIFO liquidation, and cost of sales for the interim reporting period should reflect the historical cost of the liquidated LIFO base.

d. be shown at the actual level, and the decrease in inventory level should not be reflected in the cost of sales for the interim reporting period