Under GAAP companies can choose which inventory system? $\begin{array} { l l l }
& \underline{ \text { LIFO }} & \underline{ \text { FIFO }} \\end{array}$
A)$\begin{array} { l l l } &\text { Yes } & &\text { No } \\end{array}$
B)$\begin{array} { l l l } &\text { Yes } && \text { Yes } \\end{array}$
C)$\begin{array} { l l l }& \text { No } && \text { Yes } \\end{array}$
D)$\begin{array} { l l l } &\text { No } && \text { No }
\end{array}$

Question

Under GAAP companies can choose which inventory system? $\begin{array} { l l l } 
& \underline{ \text { LIFO }} & \underline{ \text { FIFO }} \\end{array}$
A)$\begin{array} { l l l }  &\text { Yes } & &\text { No } \\end{array}$
B)$\begin{array} { l l l } &\text { Yes } && \text { Yes } \\end{array}$
C)$\begin{array} { l l l }& \text { No } && \text { Yes } \\end{array}$
D)$\begin{array} { l l l } &\text {  No } && \text { No }
\end{array}$

Quizplus · Accepted Answer

The Answer of Under GAAP companies can choose which inventory system? $\begin{array} { l l l } 
& \underline{ \text { LIFO }} & \underline{ \text { FIFO }} \\end{array}$
A)$\begin{array} { l l l }  &\text { Yes } & &\text { No } \\end{array}$
B)$\begin{array} { l l l } &\text { Yes } && \text { Yes } \\end{array}$
C)$\begin{array} { l l l }& \text { No } && \text { Yes } \\end{array}$
D)$\begin{array} { l l l } &\text {  No } && \text { No }
\end{array}$

Under GAAP Companies Can Choose Which Inventory System LIFO ‾ FIFO ‾\begin{array} { l l l } & \underline{ \text { LIFO }} & \underline{ \text { FIFO }} \\\end{array}​ LIFO ​​ FIFO ​​

Under GAAP Companies Can Choose Which Inventory System $\begin{array} { l l l } & \underline{ \text { LIFO }} & \underline{ \text { FIFO }} \\\end{array}$