Accounting Inventory methods.

Looking to your neighborhood and businesses that you frequent, Is there someone who can pls identify three different businesses and then state whether they would benefit most from the FIFO, LIFO, or Weighted Average approach to accounting for their inventories. Please state a reason with your answer. Also I know I'm asking a WHOLE lot from everyone but I wouldn't ask unless I so desperately needed the help, and I do need the help; so please help me if you can, thank you

Do you think you could maybe tell me what businesses in your area that uses LIFO and why they benefit from them? If you can; that would really help me out still, please get back to me asap.

So are you going to help me or not, cause I still need help???
Anonymous User
Anonymous User
Asked Aug 01, 2011
Edited Aug 02, 2011
In my view, businesses don't "benefit" from accounting options. They benefit from maximizing their sales and minimizing their costs. The only real money you can put in shareholders pockets is the difference between sales and what it cost you to do it.
Answered Aug 01, 2011
Edited Aug 02, 2011

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