QUESTION

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Choose the option to correctly complete the sentence. Ruthie's Radios manufactured 1,000 radios in February of 2019 at a cost of $\$ 200$ each and 400 radios in June of 2019 at a cost of $\$ 150$ each. Ruthie's Radios sold 300 radios during 2019. Ruthie's Radios uses the LIFO method of accounting for inventory and cost of goods sold (COGS). If Ruthie's Radios had instead used the FIFO method of accounting, its inventory would be and its net income would be than what Ruthie's Radios reported in 2019 using LIFO. lower; lower lower; higher higher, lower higher, higher

Public Answer

DIRGNG The First Answerer