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The inventory costing method that reflects the cost flow in the reverse order and will report the earliest costs in ending inventory is last in first out. This makes use of a perpetual inventory system.
accuracy
LIFO - Last In First Out
LIFO - Last In First Out
LIFO
The inventory costing method that reflects the cost flow in the reverse order and will report the earliest costs in ending inventory is last in first out. This makes use of a perpetual inventory system.
First in first out
The selection of an inventory costing method has no significant impact on the financial statements. true or false
accuracy
LIFO - Last In First Out
LIFO - Last In First Out
LIFO
FIFO
LIFO
walmart
There are different inventory costing methods an accountant can use for cost o goods sold accounting. The methods include last in, first out, average cost method, first in, first out, and specific identification method.
LIFO (Last in first out) is the inventory costing method which allocates the most recent costs to cost of goods sold.