一道CFA考试题全是英文的，即便是解析也是用英文解释的，那关于LIFO这道题很多人错，那这道题的解析是怎样的呢？CFA考试题有没有中文解析呢？和小编一起看看！

In a period of rising prices and stable inventory levels,which inventory valuation method will most likely result in the highest inventory turnover ratio,all else being equal?

A、Last-in,first-out(LIFO)

B、Weighted average cost

C、First-in,first-out(FIFO)

【Answer to question 2】A

【analysis】

A is correct.In a period of rising prices,the most recently purchased units of inventory carry the highest cost.Under the LIFO approach,it is these high-cost units(those that are“last in”)that are transferred to the income statement(“first out”)as cost of goods sold.The lowest-cost units remain on the balance sheet as inventory.With a high cost of goods sold value(numerator)and a low inventory value(denominator),the inventory turnover ratio is highest under LIFO.

A是正确的。在价格上涨的时期，zui近购买的库存单位成本zui高。根据后进先出法，正是这些高成本单位（即“后进”单位）作为销售商品成本转入损益表（“先出”）中。资产负债表上的*成本单位仍作为存货。由于商品销售成本高（分子）和存货价值低（分母），在后进先出法下，存货周转率zui高。


B is incorrect.Under the weighted average approach,inventory is transferred to the income statement at a cost that falls somewhere between the lowest cost earlier purchases and the higher cost later purchases.The cost of goods sold value is thus higher than the FIFO value,but lower than the LIFO value.Similarly,the inventory value falls between that of LIFO and FIFO.The inventory turnover ratio also falls in between that of LIFO and FIFO.

B不正确。根据加权平均法，存货转移至损益表的成本介于zui低的早期采购成本和较高的后期采购成本之间。因此，商品销售成本高于先进先出价值，但低于后进先出价值。同样，存货价值介于后进先出和先进先出之间，存货周转率也介于后进先出和*先出之间。

C is incorrect.Under the FIFO approach,the lower cost inventory purchased earlier is transferred to the income statement as cost of goods sold.The resulting cost of goods sold value is lower while inventory remains high.As a result,the inventory turnover ratio is low with a lower numerator and higher denominator.

C是不正确的。根据先进先出法，较早购买的成本较低的存货作为销售商品成本转入损益表。由此产生的商品销售成本较低，而存货仍然较高。因此，存货周转率较低，分子较低，分母较高。

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