LIFO/FIFO Profitability costs

CFA Level I
#1

In general, when analyzing profitability and costs, or when analyzing asset and equity ratios, which of the following should be used? Profitability/Cost Ratios Asset/Equity Ratios A) LIFO FIFO B) FIFO LIFO C) FIFO FIFO D) LIFO LIFO

#2

A LIFO a better indicator of current profitability, costs. FIFO gives better estimation of asset levels (inventory).

#3

A

#4

Dimes 27 - I got it now. Your explanation made it look easy now.