Utility Corporation uses the LIFO inventory method, but most of the other companies in Utility's industry use FIFO. Which of the following best describes one of the adjustments that would be made to Utility's financial statements to compare that company with other companies in the industry? To adjust Utility's ending inventory, to the FIFO method, the amount reported for Utility's ending inventory should be: —

单选题 编号：2690707

1. Utility Corporation uses the LIFO inventory method, but most of the other companies in Utility's industry use FIFO. Which of the following best describes one of the adjustments that would be made to Utility's financial statements to compare that company with other companies in the industry? To adjust Utility's ending inventory, to the FIFO method, the amount reported for Utility's ending inventory should be:

A.Decrease by the ending balance in Utility's LIFO reserve.
B.Increase by the ending balance in Utility's LIFO reserve.
C.Increase by the change in Utility's LIFO reserve for that period.

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