Define the use of fifo and lifo

Reference no: EM131477461

Question: 1. What are some end-of-year transactions a firm's management could undertake to bolster its current ratio?

2. How would a firm's decision to use LIFO or FIFO inventory accounting affect its current ratio in a period of rising prices? Would it make a difference in a period of stable prices?

Reference no: EM131477461

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