Answers (8)

wilbur 09-10-2012
wilbur - Columbia University (NY)
LIFO means Last In First Out, it is an easy method of valuatig the inventory, with the help of this method we can easily and correctly determine the cost of inventory.Source:http://in.docsity.com/en-docs/Accounting_-_Inventory_valuation_methods_-_Mrs_Roli_Pradhan
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ednita 10-10-2012
ednita - Alagappa University
LIFO means Last In First Out. It is the method of valuation for inventory.
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