first out), LIFO (last in, first out), FEFO (first expiry, first out), and other potential methods such as FEMAL, HIFO, and LOFO. We’ll also explore the implications forinventory management
LOFO – Lowest In, First Out LOFO (Lowest in, first out … but LIFO was already taken) is exactly the opposite of HIFO. The goods that you purchased cheapest are sold first. This is extremely rarely used if you want to increase the book value of your inventory or your taxable income....