What is an example of LIFO?

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What is an example of LIFO?

lekhraj.kushwaha 1st Dec, 2022

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lekhraj.kushwaha 1st Dec, 2022

Assume that business A has 10 widgets. The initial batch of five widgets, which cost $100 each, arrived two days ago. The final five widgets, which cost $200 each, just arrived. The last widgets are the first ones out when using the LIFO method of inventory management.

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