PART A Varoom sells batteries with a 2-year shelf life. The batteries all look alike and cannot be distinguished from one another. Varoom expects the cost of the batteries to increase gradually over time. Which method cannot be used by Varoom for financial reporting purposes, based on the description above?

A. FIFO B. LIFO C. Specific Identification D. Weighted Average or Average Cost

PART B Varoom expects the cost of the batteries to increase gradually over time. Which inventory method would result in maximizing Varooms reported net income in the financial statements?

A.FIFO B. LIFO C. Specific Identification D. Weighted Average or Average Cost