Under LIFO,the units in the ending inventory represent the most recent purchase of the period.

Name: Under LIFO,the units in the ending inventory represent the most recent purchase of the period.
Brand: Quizplus
Rating: 4.8 (39 reviews)

Question

Quizplus · Accepted Answer

Under LIFO (Last-in, First-out) method, the units in the ending inventory represent the oldest purchases/inventories in the period, while the units sold/released during the period are assumed to be the most recent purchases/inventories.

Under LIFO,the Units in the Ending Inventory Represent the Most