FIFO and LIFO are two accounting methods used for inventory management. FIFO stands for first-in, first-out, it means that the oldest items in the inventory will be recorded as sold first (it is simply an accounting assumption). LIFO stands for last-in,
The-moption is particularly important, because is selects the accounting method:rp2_ussupports FIFO, LIFO and HIFO (if-mis not specified it defaults to FIFO). To print full command usage information for therp2_uscommand: Input and Output Files ...
On the other hand, if you used the LIFO inventory management method, those 400 speakers you sold in Week 3 would use the cost of the speaker in Week 2 ($60). As such, you would price the remaining 100 speakers at your Week 1 cost ($50), so your inventory using the LIFO method i...
Try https://stockfo.com and calculating as FIFO, LIFO and HIFO methods online. Ok ok you need xls for upload transactions :)Aman Aggarwal (Audit & Finance Manager) (62 Points) Replied 11 June 2011 Originally posted by : Saurabh Gupta The attached file computes profit for a single ...
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