johnatan

What is LIFO method?

I want to know the brief description of LIFO method and its advantages.

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wilbur

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

LIFO means Last In First Out. It is the method of valuation for inventory.

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