单选题 Which of the following inventory accounting methods must be used for financial reporting purposes if a U. S. firm uses last in, first out (LIFO) for tax purposes?

A、

A. FIFO.
B、

B. Average cost.
C、

C. LIFO.

【正确答案】 C

【答案解析】If a U. S. firm uses LIFO for tax purposes, it must also use LIFO for financial reporting purposes, according to U. S. tax law.