What are the advantages and disadvantages of FIFO?

Answer 1

In an economy of rising prices (during inflation), it is common for beginning companies to use FIFO for reporting the value of merchandise to bolster their balance sheet. As the older and cheaper goods are sold, the newer and more expensive goods remain as assets on the company's books. Having the higher valued inventory and the lower cost of goods sold on the company's financial statements may increase the chances of getting a loan.

Answer 2

The advantages is just one of those cases that is vital, that involves trained attending on