Chapter 2.3 – LIFO Costing Method

by | Oct 3, 2023 | AutoCount Stock Training Note

Chapter 2 – Understand the Costing Method Chapter 2.3 – LIFO Costing Method last in, first out (LIFO) – last item of inventory purchased is the first one sold. During periods of inflation, LIFO will result in: a. highest cost of goods sold b. lowest net...