32.7k views
4 votes
The first costs assigned to ending inventory are the costs of the beginning inventory under the

1 Answer

7 votes
The answer is LIFO method or last in first out method. This is a practice that is rarely used in business as it could cause the inventory to become very old and unusable. For example milk on a shelf in the grocery store, if you keep putting fresh milk out front the back milk would expire before being used.
User Gonzalo Hernandez
by
9.0k points

No related questions found