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What are the steps to finding out the FIFO and the LIFO and theaverage...

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Accounting

What are the steps to finding out the FIFO and the LIFO and theaverage cost in Accounting?

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FIFO As we know that under FIFO method first purchased inventory is sold first for calculating cost of goods sold cost of ending inventory In other words we can say that under FIFO method we have to issue last one inventory first in order to determine the value of ending inventory and value of costs of goods sold Followings steps are involved in this method 1 Under FIFO method first of all you need to see the order of received inventory and beginning inventory 2 Next you will    See Answer
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In: AccountingWhat are the steps to finding out the FIFO and the LIFO and theaverage cost...What are the steps to finding out the FIFO and the LIFO and theaverage cost in Accounting?

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