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With inflation what are the implications of using LIFO and FIFO inventory methods and how do they affect the cost of goods sold?
Wiki User
∙ 12y ago
LIFO inventory valuation assumes the latest purchased inventory becomes part of the cost of goods sold, while the FIFO method assigns inventory items that were purchased first to the cost of goods sold. In an inflationary environment, the LIFO method will result in a higher cost of goods sold figure and one that more accurately matches the sales dollars recorded at current dollars.
Wiki User
∙ 12y ago
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When inflation increase
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how does inflation affect hospitality in nigeria industry
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explain how do intrest rates and inflation affect the real estate
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How does increased stock prices affect the nation?
Inflation!
What organization most affect the money supply?
inflation
How did inflation affect the cost of goods on the colonies?
they were cheaper
Does inventory affect paper pricing?
Inventory adjustments can produce large swings in paper pricing
How does the government fiscal policy affect the economy?
When inflation increase
How do you use inflation in a sentence?
An example sentence could be: "Can I inflate your car tire for you?"
