The inventory method used by a company affects:
A. the ending inventory on the balance sheet.
B. net income on the income statement.
C. the income taxes to be paid.
D. all of the above.

The inventory method impacts all aspects mentioned in the question, including ending inventory, net income, and income taxes. For example, FIFO and LIFO can yield different financial outcomes. Therefore, the correct answer is 'OD. all of the above.' ;

Answered by GinnyAnswer | 2025-07-06

The inventory method affects ending inventory, net income, and income taxes. Thus, the correct answer is D. all of the above. This impact arises from how methods like FIFO and LIFO handle cost calculations and reporting.
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Answered by Anonymous | 2025-07-31