问一道题：NO.PZ201602060100000202 第2小题 [ CFA I ]

NO.PZ201602060100000202 问题如下 Robert Groff, equity analyst, is preparing a report on Crux Corp. part of his report, Groff makes a comparative financianalysis between Crux anits two main competitors, RolCorp. anMikko InCrux anMikko report unr US GAanRolreports unr IFRS. Groff gathers information on Crux, Rolby, anMikko. The relevant financiinformation he compiles is in Exhibit 1. Some information on the instry is in Exhibit 2. Exhibit 1. SelecteFinanciInformation (US$ Millions) *This es not matthe change in the inventory valuation allowanbecause the valuation allowanis receto reflethe valuation allowanattacheto items solanincreasefor aitionnecessary write-wns.Exhibit 2. Instry InformationTo compare the financiperformanof the three companies, Groff cis to onvert LIFO figures into FIFO figures, anaust figures to assume no valuation allowanis recognizeany company.After reang Groff’s aft report, his supervisor, Rachel Borghi, asks him the following questions:Question1, Whicompany’s gross profit margin woulbest reflecurrent costs of the instry?Question 2, WoulRolby’s valuation methoshow a higher gross profit margin thCrux’s unr inflationary, a flationary, or a stable priscenario?Question3, Whigroup of ratios usually appears more favorable with inventory write-wn? Rolby’s net profit margin for the yeen31 cember 2009, after the austments suggesteGroff, is closest to: A.6.01%. B.6.20%. C.6.28%. B is correct.Rolby’s austenet profit margin must computeusing net income (NI) unr FIFO anexclung charges for increases in valuation allowances.NI (auste = NI (FIFO metho + Charges, incluin cost of goo solfor inventory write-wns, after t= $327 million + 15 million × (1 – 30%) = $337.5 million Therefore, austenet profit margin equals:Net profit margin = NI/Revenues = $337.5/$5,442 = 6.20% 如题

NO.PZ201602060100000202 after the austments suggesteGroff,到底是什么？ 没有懂为什么NI要加15（1-t）

NO.PZ201602060100000202 6.20%. 6.28%. B is correct. Rolby’s austenet profit margin must computeusing net income (NI) unr FIFO anexclung charges for increases in valuation allowances. NI (auste = NI (FIFO metho + Charges, incluin cost of goo solfor inventory write-wns, after t= $327 million + 15 million × (1 – 30%) = $337.5 million Therefore, austenet profit margin equals: Net profit margin = NI/Revenues = $337.5/$5,442 = 6.20% NI不是本来就是税后么？为什么还要*（1-t）？

NO.PZ201602060100000202 6.20%. 6.28%. B is correct. Rolby’s austenet profit margin must computeusing net income (NI) unr FIFO anexclung charges for increases in valuation allowances. NI (auste = NI (FIFO metho + Charges, incluin cost of goo solfor inventory write-wns, after t= $327 million + 15 million × (1 – 30%) = $337.5 million Therefore, austenet profit margin equals: Net profit margin = NI/Revenues = $337.5/$5,442 = 6.20% 就是a的抵减项对吗为什么调整的时候要乘以1/t呢

老师，好 想问下这种题型1级也会考么？就是一道题目6道小题这样子的