Question

Explain the FIFO, LIFO and weighted average methods of valuing stock?​

Answer 1

Answer:

The FIFO (first-in, first-out) method of inventory costing assumes that the costs of the first goods purchased are those charged to cost of goods sold when the company actually sells goods. ... The weighted-average method of inventory costing is a means of costing ending inventory using a weighted-average unit cost

Explanation:

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