Jul 22, 2017 Research papers

Agruement for LIFO

This paper concentrates on the primary theme of Agruement for LIFO in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 40. For more details and full access to the paper, please refer to the site.

Agruement for LIFO


Many companies use LIFO for inventory valuation. Make an agreement for using LIFO.

Argument for LIFONameCourseInstructorDate LIFO, last in – first out is an inventory valuation method, which takes into account the recently received items as the cost basis. The cost valuation method is accepted in the US, but the norm in other countries is to use FIFO, first in first out. With calls for convergence of GAAP with International Financial Reporting Standards, it remains to be seen whether LIFO will continue to be an acceptable inventory valuation method. Even though, an organization has to account for inventory that was earlier received, using LIFO helps to give a more accurate account for inve...

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