Question

diffrance between LIFO and FIFO

Answer 1

When the unit costs have increased, LIFOwill result in a larger cost of goods sold and a smaller ending inventory compared with FIFO. If the unit costs are stable, there will be little or no difference between FIFO and LIFO.


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Answer 2

lifo is last in first out in which you have to sell first one n hold last one
FIFO first in first out