Ask Experts Questions for FREE Help!
  Advanced
Register  |  Log in  

Ask QuestionsprogressAnswer QuestionsprogressBuild ReputationprogressBecome an Expert
 
Free Answers in 3 Easy Steps

Register Now
3 Steps

At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to:
  • Get free answers from experts in any of our 300+ topics.
  • Accept money for answers that you provide.
  • Communicate privately with other members (PM).
  • See fewer ads.

Home > Business & Careers > Accounting   »   lifo fifo

Answer this Question
Ask about Accounting
 
Question Tools Search this Question Display Modes
Question
 
 
#1  
Old Nov 5, 2007, 06:42 PM
lsugarbaker
New Member
lsugarbaker is offline
 
Join Date: Nov 2007
Posts: 1
lsugarbaker See this member's comment history on his/her Profile page.
lifo fifo

Having trouble understanding LIFO and FIFO.

Reply With Quote
 
     

Answers
 
 
Old Nov 5, 2007, 07:15 PM   #2  
KeepItSimpleStupid
Ultra Member
KeepItSimpleStupid is online now
 
Join Date: Aug 2007
Posts: 2,826
KeepItSimpleStupid See this member's comment history on his/her Profile page.KeepItSimpleStupid See this member's comment history on his/her Profile page.
First In First Out Stack
1
2
3
4

Item #1, then 2, then 3 and then item #4 or more complicated

Stack
1
2
3
4
Let's take item #1 and add a new item #5 so the stack is now

5
2
3
1

The next element we take is #5

Last In First Out Stack
1
2
3
4...........4 then 3 then 2 then 1

and if I take an element and add an element
1
2
3
4

Comments on this post
sarahtnordmann disagrees: confusing answer
  Reply With Quote
 
     
 
 
Old Mar 10, 2008, 07:33 PM   #3  
KeepItSimpleStupid
Ultra Member
KeepItSimpleStupid is online now
 
Join Date: Aug 2007
Posts: 2,826
KeepItSimpleStupid See this member's comment history on his/her Profile page.KeepItSimpleStupid See this member's comment history on his/her Profile page.
Mmm! Sarah, Can you do any better? Your disagreement is 4 months late. The original poster had no problems with it.
  Reply With Quote
 
     
 
 
Old Mar 13, 2008, 11:53 AM   #4  
morgaine300
Accounting Expert
morgaine300 is offline
 
Join Date: Feb 2008
Posts: 754
morgaine300 See this member's comment history on his/her Profile page.
Quote:
Originally Posted by KeepItSimpleStupid
Mmm! Sarah, Can you do any better? Your disagreement is 4 months late. The original poster had no problems with it.

Sorry, but I have to agree that it was very confusing.

Although, Sarah, I do have to also agree that it's a bit useless to hand out negative reputations four months after the fact.
  Reply With Quote
 
     
 
 
Old Mar 13, 2008, 01:22 PM   #5  
KeepItSimpleStupid
Ultra Member
KeepItSimpleStupid is online now
 
Join Date: Aug 2007
Posts: 2,826
KeepItSimpleStupid See this member's comment history on his/her Profile page.KeepItSimpleStupid See this member's comment history on his/her Profile page.
Ah, I was answering based on computer science terms thus the terminology of STACK which is a computer science term and for that matter was necessary to understand how early HP calculators operated using Reverse Polish Notation rather than algebraic.

If I had payed attention to the category, I would have answered it using accounting examples of say inventory. I learned both. Since, I come from an engineering background, the computer science example term took precedence.

Sorry, and thanks for the opportunity to clarify my position.
  Reply With Quote
 
     
Answer this Question
Ask about Accounting


Question Tools Search this Question
Search this Question:

Advanced Search
Display Modes

 
Similar Sponsors

Similar Questions
Question Asker Topic Answers Last Post
Fifo vs Lifo opivy81 Accounting 0 Oct 24, 2007 08:11 PM
fifo and lifo husted67 Taxes 3 Apr 4, 2007 09:24 AM
FIFO and LIFO peac3 Finance & Accounting 1 Aug 29, 2006 10:05 AM
Lifo/fifo lori1981 Finance & Accounting 2 Mar 4, 2006 04:49 PM
Fifo/lifo vnalezny Finance & Accounting 1 Feb 28, 2006 11:42 AM




Copyright ©2003 - 2007, Ask Me Help Desk.
All times are GMT -8. The time now is 04:39 PM.

Content Relevant URLs by vBSEO 3.0.0 RC6 © 2006, Crawlability, Inc.