NO.PZ2016012102000112
问题如下:
Under LIFO, XYZ company reported COGS of $500,000, and ending inventory of $600,000 in 2017, and in the footnotes record LIFO reserve increased $10,000, if XYZ company change accounting method, LIFO change to FIFO method, its cost of goods sold was:
选项:
A.$510,000
B.$500,000
C.$490,000
解释:
C is correct.
FIFO COGS = LIFO COGS –△LIFO reserve
=500,000-10,000=490,000.
LIFO中先卖的是Last in,那么COGS不是应该低吗,同理FIFO的COGS应该比较高,为什么LIFO到FIFO还是减去10000呢,知道公式是这样但是不理解逻辑