Write a summary of why an organization may choose to use the LIFO method when inventory costs are increasing.

If your chosen career is in an industry that sells goods to customers, you will need to decide which inventory method to use.

a, First, do a bit of research to determine if inventory costs are increasing or decreasing. Write a brief description of what you found and cite the website(s) you looked at to make this determination.

b, Next, select either FIFO, LIFO, or Weighted Average (WA) and briefly explain in one or two paragraphs WHY you selected this method. What effect will your answer to a above and the choice you made (LIFO, FIFO, or WA) have on the net income of the organization.

c, If your organization does not sell inventory, write a summary of why an organization may choose to use the LIFO method when inventory costs are increasing. Use your own words.

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