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What is Inventory Cost Flow Methods Explained about?
The document summarizes different inventory cost flow methods including: 1) FIFO (first-in, first-out) where the oldest units purchased are considered sold first and ending inventory is valued at most recent costs. 2) Weighted average where the cost per unit is calculated by dividing total cost by total units available. 3) Moving average (weighted average perpetual) continuously recalculates weighted average cost after each purchase or sale. 4) Specific identification tracks actual costs of specific i
- Author
- Karyl Failma
- Language
- EN