Cost of Inventory has Continually Increased - Accounting and Finance Assignment Help

Assignment Task:

Task:

Question no 3 10
Paragliding Corp. is a merchandizer carrying para gliding gear and kit. At the end of its third year of operation and is struggling. A major problem is that its cost of inventory has continually increased in these three years. In the first year of operations, the store assigned inventory costs using LIFO. A loan agreement the store has with its bank, its prime source of financing, requires the store to maintain a certain profit margin and current ratio. The store’s owner is currently looking over Paragliding’s preliminary financial statements for its third year. The numbers are not favorable.
Required:
As an Advisor you must recommend a method that how does Paragliding Corp. improve its net profit by using Inventory costing methods? And defend your Answer that how it improves store’s net profit. Also explain that is your answer comply with laws and ethics?

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