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The LIFO Reserve

This tutorial introduces the concept of LIFO (Last In, First Out) reserve, and explains why there is discrepancy in financial statements between the uses of LIFO (Last In, First Out) and FIFO (First…

From  Baruch DML 5 plays

FIFO & LIFO

This session introduces FIFO (First in, First out) and LIFO (Last In, First Out) inventory evaluations. Basic examples are examined to find out how these methods work, and the differences between two…

From  Baruch DML 4 plays