Question

How normal and abnormal loss are treated in fifo and lifo method

Answer 1

$\Large\color{darkblue}\underline{\underline{\sf Answer-}}$

Treatment Of Normal Loss And Abnormal Loss In Accounting For Branch. The normal loss is a loss of natural phenomena.

And So the total cost of goods sent to branch becomes the goods received and normal loss unit is the difference between total number of goods sent and physically received units