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9:37
Study.com
Sherri Hartzell
Inventory Valuation Methods: Specific Identification, FIFO, LIFO & Weighted Average
Inventory valuation methods are ways that companies place a monetary value on the items they have in their inventory. Discover different inventory valuation methods, including specific identification, First-In-First-Out (FIFO), Last-In-First-Out (LIFO), and weighted average.
52K views
Aug 19, 2014
FIFO and LIFO accounting Definition
FIFO vs LIFO | Which is the Best Inventory Valuation Method?
wallstreetmojo.com
Nov 8, 2016
Answered: How the Walmart company using FIFO ,LIFO warehouse storage style to manage their inventory? Please provide the definition, explanation and example that… | bartleby
bartleby.com
6 months ago
5:49
Replying to @i in intro accounting class we learn three inventory cost flow assumptions (specific identification tracks each item and is therefore not an assumption): FIFO (first-in first-out), LIFO (last-in first-out), and average cost. We use these to compute our cost of goods sold. Even though perpetual inventory systems are much more common for large companies, I illustrate these cost flow assumptions using a periodic system. #accounting #study #explained #inventory #lifo #fifo #averagecost
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