Answer
(b)- Comparability
Work Step by Step
By using the FIFO cost flow assumption, this ensures that Black & Decker and Cannondale Corporation compare to identify differences and similarities between two statements.
Intermediate Accounting 14th Edition
by Kieso, Donald E.; Weygandt, Jerry J.; Warfield, Terry D.
Published by
Wiley
ISBN 10:
0470587237
ISBN 13:
978-0-47058-723-2
Chapter 2 - Conceptual Framework for Financial Reporting - Brief Exercises - Page 69: BE2-4b
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