{"id":104588,"date":"2022-04-27T16:12:10","date_gmt":"2022-04-27T10:42:10","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=104588"},"modified":"2022-04-27T16:12:24","modified_gmt":"2022-04-27T10:42:24","slug":"in-a-situation-of-rising-prices-profit-and-tax-liability-would-be-lower-under-method-than-under","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/in-a-situation-of-rising-prices-profit-and-tax-liability-would-be-lower-under-method-than-under\/","title":{"rendered":"In a situation of rising prices, profit and tax liability would be lower under method than under method of material issue pricing"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><strong>Q. In a situation of rising prices, profit and tax liability would be lower under method than under method of material issue pricing<\/strong><\/h3>\n\n\n\n<p>A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FIFO; LIFO<\/p>\n\n\n\n<p>B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LIFO; FIFO<\/p>\n\n\n\n<p>C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LIFO; Average<\/p>\n\n\n\n<p>D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FIFO; Average<\/p>\n\n\n\n<p>Answer: LIFO; FIFO<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a situation of rising prices, profit and tax liability would be lower under method than under method of material issue pricing<\/p>\n","protected":false},"author":419,"featured_media":104590,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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