Define Last-In, First-Out (LIFO) method.

Quickbooks Online Accounting
3rd Edition
ISBN:9780357391693
Author:Owen
Publisher:Owen
Chapter2: Sample Company Walkthrough
Section: Chapter Questions
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Define Last-In, First-Out (LIFO) method.

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Inventory cost flow assumptions: These are the methods used by the companies to compute the cost assigned to inventory from the time inventory is bought to the time inventory is sold.

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