NO.PZ2016012102000110
问题如下：
Given during an inflationary environment, a LIFO liquidation will most likely result in an decrease in:
选项：
A.
Net profit margin
B.
accounts receivable
C.
Cost of sales per unit
解释：
C is correct.
during an inflationary environment, a LIFO liquidation will decrease in cost of sales, because of older and lower costs are included in cost of sales.
考点：LIFO liquidation
所谓的“后进先出法清算（LIFO liquidation）”操纵手法，可以理解为“吃存货”。具体举例：一个企业不再新进存货时，存货只有出，没有进，所以叫“吃存货”。那么在膨胀环境下，COGS减小，Net Income 上升。具体表现为：intventoty quantity 减少，LIFO reserve 降低；COGS减少，Net Income 上升，所以对应的profitability 也会上升。
通货膨胀价格上升，LIFO模式下，COGS会高，EBIT会低NI就低，那为啥gross profit margin降低不对呢
