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    kaholi1989's Avatar
    kaholi1989 Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Aug 6, 2012, 10:04 PM
    LIFO AND FIFO questions
    Accounting procedures allow a business to evaluate their inventory at LIFO (Last In First Out) or FIFO
    (First In First Out). A manufacturer evaluated its finished goods inventory (in $ thousands) for five
    products both ways. Based on the following results, is LIFO more effective in keeping the value of his
    inventory lower?
    Product FIFO LIFO
    1 225 221
    2 119 100
    3 100 113
    4 212 200
    5 248 245
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #2

    Aug 7, 2012, 05:27 AM
    What? Please undertake your assignment yourself and then we will discuss your answer with you
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