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accountinginfocus.com
Last-In, First-Out (LIFO) Inventory Calculations – Accounting In Focus
Last-in, first-out (LIFO) is an inventory method popular with companies that experience frequent increases in the cost of their product. LIFO is used primarily by oil companies and supermarkets, because inventory costs are almost always rising, but any business can use LIFO. Remember, there is no correlation between physical inventory movement ...
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