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6:14
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Edspira
LIFO Perpetual Inventory Method
This video shows how to use the LIFO (last in, first out) cost flow assumption to calculate Cost of Goods Sold (COGS) and ending inventory for a company that uses a perpetual inventory system. Companies that use a perpetual inventory system update the inventory account whenever inventory is purchased or sold. Thus, a company using LIFO and a ...
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