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What else can I help you with?
Does Target use the lifo fifo or average-cost inventory method?
fifo
Why does not use FIFO in stack?
A FIFO, or First In First Out is a queue.A stack is a LIFO or Last In First Out.
Are there any tasks that Quickbooks cannot perform?
Quickbooks cannot use LIFO or FIFO for Inventory Costing.
The use of LIFO during a long inflationary period can result in?
Significant cash flow advantages over FIFO
When should one use LIFO versus FIFO in inventory management?
One should use LIFO (Last In, First Out) in inventory management when they want to minimize taxes and show lower profits on their financial statements. FIFO (First In, First Out) should be used when they want to reflect current costs and show higher profits.
Why would management prefer to use LIFO over FIFO in periods of rising price?
Using lifo in rising prices has benefit that it will charge latest costs which will reduce the profit and hence the tax charge as well.
Differences between stacks and qeues?
stacks work in by the process of (LIFO) last in first out. While queues use the process of (FIFO) first in first out.
With data structures what are the implementations of using LIFO and FIFO?
Think about what each concept means. A FIFO (First In, First Out) stack is like a supermarket queue - people are served in the order in which they arrive in line. You'd use a FIFO stack for a process that requires sequential access to data in arrival order, such as transaction processing. On the other hand, a LIFO (Last In, First Out) stack is like an elevator - the people who board last are nearest the front, so they're the first off in "processing" order. You might use a LIFO stack for something like expression parsing. For example, if you're trying to match up parens, you need to use the "nearest match" rule. That means if you have already stacked two "("s you'd want to pair the most recently-scanned one with the first closing ")" encountered and evaluate the enclosed expression. That means the ")" would pair off with the "(" at the top of your paren stack rather than the bottom; i.e. LIFO.
What is an acceptable method of determining inventory cost under GAAP?
One can use FIFO, LIFO, or Average Costing as acceptable methods for accounting. Standard costing would be an unacceptable answer.
Which one of the following inventory methods is often impractical to use specific identification lifo fifo average cost?
Specific identification....I guess average cost but this turned out to be the right answer :/
What kind of businesses use FIFO?
If inventory goods are perishable, then FIFO is the best method because older goods need to be sold before newer goods. Some companies use LIFO because this strategy means less taxable income (assuming that prices are increasing). Regardless, whatever strategy a business uses for statements it must also use that strategy for income tax preparation.
Does Amazon use FIFO or LIFO?
Amazon primarily uses the FIFO (First-In, First-Out) inventory management method. This approach is beneficial for their operations, especially in managing perishable goods and ensuring that older stock is sold before newer stock. FIFO helps minimize waste and maintain product freshness, which is crucial for customer satisfaction and operational efficiency.
