ACCOUNTING I Dersi Merchandise Inventory soru detayı:
SORU: What is "Last-In, First-Out (LIFO) Method"?
What is "Last-In, First-Out (LIFO) Method"?
CEVAP: Method is an inventory costing method in which the last costs into inventory are the first costs out to cost of goods sold. The method leaves the oldest costs –those of beginning inventory and the earliest purchases of the period- in ending inventory.
Method is an inventory costing method in which the last costs into inventory are the first costs out to cost of goods sold. The method leaves the oldest costs –those of beginning inventory and the earliest purchases of the period- in ending inventory.