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Which inventory method assigns the most recent costs to the cost of the good sold?
LIFO
Is the inventory costing method that assigns the most recent costs to the most recently sold inventory?
LIFO - Last In First Out
What inventory costing method that assigns the most recent costs to the most recently sold inventory?
LIFO - Last In First Out
What is the inventory method that assigns the most recent costs to cost of goods sold?
LIFO (Last in first out) is the inventory costing method which allocates the most recent costs to cost of goods sold.
Which inventory costing method assigns the most recent costs to the cost of good sold?
LIFO (Last in First Out) method is the method which charge the most recent prices to cost of goods manufactured and sold statement.
Which inventory method assigns the most recent costs to the cost of the good sold?
LIFO
Is the inventory costing method that assigns the most recent costs to the most recently sold inventory?
LIFO - Last In First Out
What inventory costing method that assigns the most recent costs to the most recently sold inventory?
LIFO - Last In First Out
What is the inventory method that assigns the most recent costs to cost of goods sold?
LIFO (Last in first out) is the inventory costing method which allocates the most recent costs to cost of goods sold.
What is the inventory method that assigns the most recent costs to cost of good sold?
LIFO - Last In First Out
Which inventory costing method assigns the most recent costs to the cost of good sold?
LIFO (Last in First Out) method is the method which charge the most recent prices to cost of goods manufactured and sold statement.
What is the inventory method that assighns the most recent costs to cost of goods sold?
LIFO (Last in first out) method assigns the most recent cost to cost of goods sold because in this method goods received in last are used first.
What is the advantage and disadvantage of lifo and fifo method?
The advantage of the FIFO (First In, First Out) method is that it provides a more accurate representation of inventory costs during inflation, as older, cheaper costs are matched against current revenues, resulting in higher profits. Conversely, the LIFO (Last In, First Out) method can lead to tax advantages during inflation by matching recent, higher costs against revenues, reducing taxable income. However, a disadvantage of FIFO is that it may result in higher taxes during inflation, while LIFO can distort inventory values on the balance sheet and may not reflect the actual flow of inventory.
What is the inventory costing method that charge the most recent incurred against revenue?
LIFO
What is the inventory method that charges the most recent cost incurred against revenue?
LIFO
What is the inventory costing method that charges the most recent costs incurred against revenue?
LIFO
Under the LIFO inventory costing method are the most recent costs are assigned to ending inventory?
No, under the LIFO (Last In, First Out) inventory costing method, the most recent costs are assigned to the cost of goods sold, not to ending inventory. This means that the older costs remain in the ending inventory. Consequently, in periods of rising prices, LIFO typically results in lower ending inventory values and higher cost of goods sold compared to FIFO (First In, First Out).
