ACCT 2301 Week 6 Discussion 1 | Assignment Help | Central Texas College
- Central Texas College / ACCT 2301
- 08 Aug 2020
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ACCT 2301 Week 6 Discussion 1 | Assignment Help | Central Texas College
When identical units of
inventory are purchased, businesses may track the exact cost flow of the units
individually, or they may use a cost flow assumption.
Discuss the three cost
flow assumptions (FIFO, LIFO, Weighted Average). Is there any advantage to
using a cost flow assumption rather than keeping up with the actual flow of
inventory?
Explain the lower of
cost or market basis of accounting for inventories.
USA 
India