Stock and Work in Progress: The Blood Sucking Vampire

Keron Bhattacharya

Chapter 6 in Accountancy’s Faulty Sums, 1992, pp 85-101 from Palgrave Macmillan

Abstract: Abstract The switch to FIFO enabled Chrysler to charge lower costs against revenues. By virtue of the change, the company was able to declare a profit of $7.6 million in the fourth quarter of 1970; without the change it would have had to declare a loss of $3.6 million (New York Times, 10 February 1971).

Keywords: Stock Issue; Account Standard; Term Contract; Stock Valuation; Contract Balance (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12887-7_7

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DOI: 10.1007/978-1-349-12887-7_7

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