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Unformatted text preview: $7,400 $6,600 December 31, 1998 6,900 6,800 6,600 6,500 December 31, 1999 9,000 10,000 11,000 9,600 1. The inventory basis that would show the highest net income for 1997 is: . 2. The inventory basis that would show the highest net income for 1998 is: . 3. The inventory basis that would show the lowest net income for the period combining together the three years is: . 4. For the year 1998, how much higher (or lower) would profits be on the Method B basis than on the Method D basis? Higher / lower...
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- Fall '08
- Financial Accounting