Question
Use the following information for Blossom Company, Splish Brothers Inc., Riverbed Industries, and Evans Services to answer the question Using the LIFO adjustment, which company
Use the following information for Blossom Company, Splish Brothers Inc., Riverbed Industries, and Evans Services to answer the question Using the LIFO adjustment, which company shows the greatest improvement in its current ratio from 2021 to 2022?
(amounts in $ millions) Blossom Splish Brothers Riverbed Evans Inventory Method for 2022 & 2021 LIFO FIFO LIFO FIFO 2021 Ending inventory assuming LIFO $323 0 $213 0 2021 Ending inventory assuming FIFO $438 $524 $304 $669 2022 Ending inventory assuming LIFO $436 0 $167 0 2022 Ending inventory assuming FIFO $584 $623 $217 $545 2021 Current assets (reported on balance sheet) $1677 $2033 $1321 $2736 2021 Current liabilities $992 $1218 $553 $1211 2022 Current assets (reported on balance sheet) $2224 $2595 $1113 $2398 2022 Crrent liabilities $1303 $1415 $459 $1010 2022 Cost of goods sold $4673 $5036 $2989 $7005
Evans Riverbed Blossom Splish Brothers
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