Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 06 Apr 2018 My Price 6.00

Effects of a Reductio

Supplement A Analyzing the Effects of a Reduction in the Amount of LIFO Inventory
An annual report of ConocoPhillips contained the following note:
During 2008, certain international inventory quantity reductions caused a liquidation of LIFO inventory values resulting in a $39 million benefit to our R&M segment net income. In 2007, a liquidation of LIFO inventory values increased net income $280 million, of which $260 million was attributable to our R&M segment.
Required:
1. Explain why the reduction in inventory quantity increased net income for ConocoPhillips.
2. If ConocoPhillips had used FIFO, would the reductions in inventory quantity during the two years have increased net income? Explain.

Answers

Maurice Tutor
(5)
Status NEW Posted 06 Apr 2018 03:04 PM My Price 6.00

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