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What was the book value of company A's inventories at the end of fiscal years 2014 and 2013? What would have been the book value
What was the book value of company A's inventories at the end of fiscal years 2014 and 2013?
What would have been the book value of company A's inventories at the end of fiscal years 2014 and 2013 had they used FIFO as their cost flow assumption for all their inventories?
What is the trend in their LIFO reserve over the between 2013 and 2014? What do you think are some of the factors that have contributed to this trend?
What are the advantages and disadvantages of using LIFO (relative to FIFO)?
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