Please see attachment for accounting questions 1-5.

Accounting Questions: When comparing the FIFO and LIFO inventory methods: . A. LIFO reports the most uptodate inventory cost on the balance sheet. B.FIFO matches old inventory costs against revenue. C.FIFO results in the most realistic net income figure. D.LIFO values inventory at the newest costs When determining the international aspects of inventory valuation A.IFRS prohibits the use of FIFO. B.IFRS permits the use of LIFO. C.it can be difficult to compare a U.S. company against a foreign company if different inventory methods are used. D.inventory valuation is the only major difference between GAAP and IFRS. Winter Fun, Inc., had the following data for the month of March: Beginning inventory, March 1 306 units at $20 per unit March 19 purchase 214 units at $22 per unit March 27 purchase 208 units at $27 per unit At March 31, 301 units are still on hand. Determine the cost of goods sold for March if Winter Fun uses the FIFO method. A.$6,020 B.$7,525 C.$10,434 D.$8,782 Given the following data, by how much would taxable income change if LIFO is used rather than FIFO? Beginning inventory 3,500 units at $60 Purchases 6,500 units at $70 Units sold 8,100 A.Decrease by $19,000 B.Increase by $15,000 C.Decrease by $15,000 D.Increase by $19,000