English, asked by shilpaagrawal1803, 1 month ago

find out the cost of closing stock by fifo method​

Answers

Answered by MansinghBanara
0

Answer:

To calculate FIFO (First-In, First Out) determine the cost of your oldest inventory and multiply that cost by the amount of inventory sold, whereas to calculate LIFO (Last-in, First-Out) determine the cost of your most recent inventory and multiply it by the amount of inventory sold.

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