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What would be the impact on firm ending inventory

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Reference no: EM132512200

Question 1. If a company decides on shifting from LIFO method to FIFO method then what would be the impact on firm's Ending Inventory, Gross Profit and Net Profit margin?

Question 2. If a LIFO using company decides to switch from Perpetual Inventory system to Periodic Inventory System then what might be the impact on Ending inventory and Cost of Sales, if any, and why?

Question 3. Are impairment procedures on assets under IFRS beneficial for the company? And how can they be reversed if the asset is held for use?

Question 4. Why is a diluted EPS calculated? And can a listed company not show its diluted EPS along with the Basic EPS even if the requirements are met for Dilution?

Reference no: EM132512200

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