The article offers information on LIFO (last in, first out) and FIFO (first in, first out). It states that the differences between the LIFO and FIFO accounting methods are essential if the company sells commodities whose prices change. It cites that if a company that sells cocoa beans from...
(first come, first serve). fifo is opposite to lifo (last in, first out), in which the system processes the youngest/ most recent (top of the stack) entry first. fifo operations fifo needs to allow two fundamental operations: dequeue –it lets the system remove the first element from ...
调整 BS 要把 LIFO reserve 加到 inventory,把 t X LIFO reserve 加到 deferred taxes,把(1-t)×LIFO reserve 加到 retained earnings COGSF=COGSL-(ending LIFO reserve-beginning LIFO reserve) Profitability ratio 用 LIFO 衡量, asset 和 equity 用 FIFO 衡量; COGS 用 LIFO 更好, FIFO 要调整成 ...