Question

You are working in a company as a Chief Accountant. While preparing the accounts of your
company, you are faced with a number of problems. These are summarized as below.
a) Directors are interested to adopt LIFO Method of inventory valuation instead of present FIFO
Method for the Current accounting period for showing better results.

b) Balance sheet of the last year shows that company owns shares in a quoted company and they
are quoted at substantially lower value than purchase price. The value is not likely to
increase.

Answer 1

Answer:

JAY BHATRAKALI.

Explanation: