Question 1: Discuss whether or not you believe that LIFO is a fair inventory valuation method.
Question 2: Identify three different businesses and then state whether they would benefit most from the FIFO, LIFO or Weighted Average approach to accounting for their inventories. State a reason with your answer.
Question 3: Discuss what procedures a company may take to reduce the chance of fraudulent employee activities.
Question 4: If you became aware of fraudulent accounting activities in the company where you are employed, discuss what you would do about it, if anything, and state why or why not.