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Maisie's Mulch is considering the impact of its cost flow assumption choice on its financial statement ratios. Currently, her net sales is $300,000, and her
Maisie's Mulch is considering the impact of its cost flow assumption choice on its financial statement ratios. Currently, her net sales is $300,000, and her average total assets (calculated using perpetual LIFO) is $160,000. Maisie notices that if she switched to perpetual FIFO, her average total assets would increase to $180,000 . What is Maisie's Asset Turnover under LIFO? Round your answer to two decimal places. What is Maisie's Asset Turnover under FIFO? Round your answer to two decimal places. Based solely on the impact to Maisie's Asset Turnover, which cost flow method would you suggest Maisie use? Write either "LIFO" or "FIFO". 1 pts Question 4 Indicate how changes in the following accounts will impact the listed financial ratios: Increase in Net Sales on Asset Turnover. [Select] F Increase in Other Non-Current Liabilities on Current Ratio. Select] Decrease in Current Assets on Debt-To-Assets. (Select] Decrease in Net Income on Return on Assets. [Select] Increase in Cost of Goods Sold on Average Days in Inventor [ Select] No Effect Increase Decrease
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