NO.PZ2016012101000143
问题如下：
Zimt AG uses the FIFO method, and Nutmeg Inc. uses the LIFO method. Compared to the cost of replacing the inventory, during periods of rising prices the ending inventory balance reported by:(assume the companies use a periodic inventory system)
选项：
A.Zimt is too high.
B.Nutmeg is too low.
C.Nutmeg is too high.
解释：
B is correct.
Nutmeg uses the LIFO method, and thus some of the inventory on the balance sheet was purchased at a (no longer available) lower price. Zimt uses the FIFO method, so the carrying value on the balance sheet represents the most recently purchased units and thus approximates the current replacement cost.
解析：the cost of replacing the inventory 就是存货现在的市场价格，现在去市场中买一个一样的东西的价格。FIFO先进先出，先把以前采购的存货卖掉，剩下的库存是最近采购的，所以INV反映的是最近采购的存货的价格，也就是接近于现在的市场价格的，而LIFO后进先出，最新采购的存货先卖掉，留下仓库里的存货是以前采购的，所以INV的账面价值反映的是以前采购的存货的价格。如果存货市场价格在上升，那么FIFO的INV更高。要注意的是这道题并不是问相比其中一种方法，另一种方法的INV是高还是低，而是问相比现在的市场价格，两个公司的INV是高还是低。Z公司使用FIFO，其INV是接近市场价格的，但是肯定也不会超过市场价格，所以A不对。N公司使用LIFO，其存货账面价值是远低于现在市场价格的，所以选B。
RT
