Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby

Exercise 29

Several managers in your company are experiencing personal financial problems and have asked that your company switch from LIFO to FIFO so that they can receive bigger bonuses, which are tied to the company's net income. How would you respond to this request if you were the company's chief financial officer (CFO) Would such a switch help the managers Who could it hurt