NO.PZ2016012101000148
问题如下:
Compared to a company that uses the FIFO method, during periods of rising prices a company that uses the LIFO method will most likely appear more:(assume the companies use a periodic inventory system)
选项:
A.liquid.
B.efficient.
C.Profitable.
解释:
B is correct.
LIFO will result in lower inventory and higher cost of sales. Gross margin (a profitability ratio) will be lower, the current ratio (a liquidity ratio) will be lower, and inventory turnover (an efficiency ratio) will be higher.
解析:在存货采购价格上升的市场中,相比FIFO,LIFO方法下的ending inventory账面价值更低,因为后进先出,留下来的是之前采购的存货,在价格上升的市场,之前采购的价格较低,所以留下来的存货价格低,因此存货账面价值就低。
相反的,LIFO方法下的当期COGS就会更高,因为假设卖掉的时候后采购的,价格高的存货。COGS高,NI就低。
比较ratio的时候分别看inventory和COGS影响的是各ratio的分子还是分母:
A:liquidaty ratio,比如Current ratio = Current assets / Current
liabilities,LIFO的inventory低,current assets低,因此current ratio更低,而不是“more liquid”,选项A错误。
B:efficiency ratio,即activity ratio,与存货直接相关的inventory turnover=COGS/average inventory,LIFO下,更高的COGS和更低的inventory,导致inventory turnover更高,所以从指标上来看是more efficient,选项B正确。
C:profitability ratio,比如NI/revenue,LIFO有更低的NI,所以profitability低,选项C错误。
老师,请问那liquid中的quick ratio是否是受到inventory的影响?