单选题 An analyst gathered the following financial statement information about a company:

Preferred stock	$60 million
Common stocks and additionals paid in capital	$90 million
Retained earnings	$307 million
Total number of common shares outstanding	10 million
Tax rate	30%

The analyst also determined that the company uses the LIFO inventory method, but most companies in the industry use the FIFO method. The footnotes to the financial statements indicate that if the company had used the FIFO method, the inventory balance would have been $40 million higher than the amount reported on the company's most recent financial statements. The most appropriate book value per share to use in computing the company's price to book value ratio is:
A. $42.5
B. $43.7
C. $47.5

【正确答案】 A

【答案解析】[解析] 每股净资产(book value per share)=[90+307+40×(1-30%)]/10=42.5，这里需要考虑本公司采用的是LIFO，而其他公司采用的是FIFO，如果该公司用FIFO的话，会增加存货价值，同时该公司的COGS也会减少，从而利润增加，但要扣除税收的影响。