Inventory F14-15b
Which inventory method, FIFO or LIFO, produces a lower inventory value, during period of rising prices?
If inventory costs have been rising, LIFO shows lower ending inventory, higher cost of goods sold, and lower income.
Which inventory method, FIFO or LIFO, produces a lower inventory value, during period of rising prices?
If inventory costs have been rising, LIFO shows lower ending inventory, higher cost of goods sold, and lower income.