FIFO and LIFO used to value the cost of goods sold and ending inventory, In general, LIFO accounting is not recommended, do you know why?

Start networking and exchanging professional insights

Register now or log in to join your professional community.

Next Question:
Which one of the following is not a method of assigning costs to the ending inve...
Posted by:
Ahmed Abdi Mahad
08-May-2015

Inventory Management

Question added by Elmardi Elmaki , INTERNAL AUDIT MANAGER , SABCO POLUTRY Co
Date Posted: 2016/09/05

Upvote (1) Views (5) Followers (2) Answers (1) Report Question

Write an Answer
Register now or log in to answer.

1 Answers

Hossam El Din Ali El Waaey

by Hossam El Din Ali El Waaey , Business Analyst , Saudi Telecom Company - STC

This might lead to the expiry of the goods which entered firstly.

Downvote Reply () Report

Popular Searches

Sales Executive Jobs Engineers Jobs Engineering Technicians Jobs Accountant Jobs Driver Jobs

Write Your Answer

More Questions Like This

If certain goods owned by an entity were not recorded as a purchase and were not counted in ending inventory, in error, then
Top Answer: D. There will be no effect on cost of goods sold or profit for the period. See More

Answers (4)
Beginning inventory plus purchases minus ending inventory equal?
Top Answer: Option1: Cost of good sold. See More

Answers (2)
Misstatement of inventories or cost of good sold can be detected by:
Top Answer: answer C is the correct answer See More

Answers (21)
Cost of Good Sold(COGS) equal:
Top Answer: <p>b. Beginning inventory + Purchases - Ending Inventory</p> See More

Answers (2)

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.