Use the Following Information for Boxter, Inc A) Boxter B) Clifford C) Danforth D) Evans
Question 170
Question 170
Multiple Choice
Use the following information for Boxter, Inc., Clifford Company, Danforth Industries, and Evans Services to answer the question "Using the LIFO adjustment, which company shows the greatest improvement in its current ratio from 2013 to 2014?" (amounts in $ millions) Inventory Method for 2013 &2014 2013 Ending inventory assuming LIFO 2013 Ending inventory assuming FIFO 2014 Ending inventory assuming LIFO 2014 Ending inventory assuming FIFO 2013 Current assets (reported on balance sheet) 2013 Current liabilities 2014 Current assets (reported on balance sheet) 2014 Current liabilities 2014 Cost of goods sold Boxter LIFO$324$427$436$578$1,677$987$2,225$1,306$4,678Clifford FIFON/A$535N/A$612$2,031$1,209$2,605$1,410$5,042 Danforth LIFO$225$310$167$209$1,308$545$1,100$465$3,000 Evans FIFON/A$663N/A$542$2,748$1,200$2,390$1,000$7,000
A) Boxter B) Clifford C) Danforth D) Evans
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