Create a 75-100 word answer to each of the following bulletted questions:
• In a period of increasing prices, why would the company tax accountant prefer the last in, first out method while the CEO would prefer first in, first out? Why is this important?
• Which inventory method should a gasoline retailer use? (a) LIFO, (b) FIFO, (c) Average, or (d) any method that its management chooses.
• Which method of inventory they would choose to use if they were: CEO of a company just going public or CEO or a company short on cash?
• What are the key internal controls that should be in place to protect inventory for a merchandiser that sells highly-desirable and expensive inventory such as jewelry?
• Would this be different if the business had a less-desirable and less-expensive inventory?
• Without persuasive skills, we wouldn't be able to bring someone with an opposing view over to our way of thinking. What do you think?
• Have you been faced with something that you did not want, yet were persuaded into accepting it in the end?
• Embrace the changes that are inevitably coming your way and you'll discover they can be full of opportunity and potential for greatness in yourself. What do you think?
• What makes a point valid?
• Do you think you are easily persuaded?
• Without persuasive skills, we wouldn't be able to bring someone with an opposing view over to our way of thinking. What do you think?