Which inventory method will you use if your motive is to. minimize income taxes?

Use_______________________to minimize income taxes. Operating income under this method is lowest when inventory unit costs are ______________________, as they are in this case. (If inventory unit costs were going the opposite direction, income under ________________________(would be lowest.)

b. report the highest operating income?

Use_____________________________to report the highest operating income. Income under this method is highest when inventory unit costs are ____________________________as in this situation.

c.report operating income between the extremes of FIFO and LIFO?

Use __________________________________ to report an operating income amount between the FIFO and LIFO extremes. This is true in this situation and in others when inventory unit costs are

d. report inventory on the balance sheet at the most current cost?

Use _______________to report inventory on the balance sheet at the most current cost. The inventory costs are expensed as cost of goods sold, leaving in ending inventory the ________________________costs of the period.

e. attain the best measure of net income for the income statement?

Use _____________________________________to attain the best measure of net income. This method produces the best current expense recognition by matching the ____________________________expense with current revenue. The___________________________inventory costs are expensed as cost of goods sold.

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