Does the term last-in in the LIFO method mean that the items in the inventory are assumed to be the most recent (last) acquisitions? Explain

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Darshita 6.14K August 13, 2020 0 Comments

Does the term last-in in the LIFO method mean that the items in the inventory are assumed to be the most recent (last) acquisitions? Explain

Darshita Changed status to publish August 13, 2020

score 0 · Answer 1 · 2020-08-13T15:34:50+00:00

Answer: No

last-in in the LIFO method mean that the items in the inventory are which are acquired earlier rather the recent acquisition

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