If for an entire year prices are falling over time

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If for an entire year prices are falling over time for inventory purchases (i.e. a period of deflation), then the inventory costing method that will produce the highest reported profits that year for a firm that started business that year will be: FIFO Weighted Average Cost FISH Unspecific Identification LIFO
Freddy's Frogs sells inventory that had cost the company $1,800 for $2,500 whereby $2,000 is received in cash and the remainder is to be paid by the customer in 10 days (specific identification method is used). Which of the following is the correct journal entry to record the transaction if a perpetual inventory method is used by the company?
If Anne's Bakery uses a perpetual inventory system and a LIFO cost flow assumption, what is the cost of goods sold for the month of March?
If Zenith uses a perpetual bookkeeping system, the inventory was counted on January 31, the physical stock count revealed there were actually 12,000 units on hand. Zenith should:
Albany Addictive Apples counted and valued its inventory using FIFO on December 31, 2013 and on December 31, 2014 and reported the calculated values on each respective balance sheet. Albany Additive Apples had zero consignment inventory on hand at December 31, 2014 and had some consignment on hand at December 31, 2013. If consignment inventory had erroneously been counted and included in inventory in the December 31, 2013 count, which of the following is true? The company should not have used FIFO and should restate both years balance sheets and income statements Inventory was understated at December 31, 2013
Inventory was understated at December 31, 2014 Net income was understated in 2014 Net income was understated in 2013 If Zenith uses the LIFO cost flow assumption and the periodic method for inventory, the cost of goods sold for January, is $44,000 ?

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