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Q16. If DEF Corp had used the FIFO method instead of the LIFO method, what would be the amount of the retained earnings as of
Q16. If DEF Corp had used the FIFO method instead of the LIFO method, what would be the amount of the retained earnings as of the end of fiscal 2019? (Hint: Tax that would be owed is recorded in the deferred tax liability.) million Q17. If DEF Corp had used the FIFO method instead of the LIFO method, what would be the DEF Corp's cash conversion cycle for 2019 ? days (xx.x)
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