The use of the FIFO method of inventory valuation results in a matching of current inventory costs against current sales revenue
2007-08-19 10:21:46 · 7 answers · asked by Anonymous in Business & Finance ➔ Corporations
False - FIFO compares past cost to current revenue. The oldest inventory cost is used. LIFO would compare current cost to current revenue.
2007-08-19 10:27:43 · answer #1 · answered by Rocker 05 1 · 0⤊ 0⤋
True. But there are drawbacks to each inventory valuation method.
2007-08-19 10:25:29 · answer #2 · answered by hottotrot1_usa 7 · 0⤊ 0⤋
the term fifo stands for first in first out,so it would be false.
2007-08-19 10:27:47 · answer #3 · answered by Anonymous · 0⤊ 0⤋
false,you're referringg to lifo, not fifo.
2007-08-19 10:28:40 · answer #4 · answered by 27ysq 4 · 0⤊ 0⤋
True
2007-08-19 10:24:13 · answer #5 · answered by diannabishop 4 · 0⤊ 0⤋
listen to rocker 05
2007-08-19 10:30:11 · answer #6 · answered by mysackburns 1 · 0⤊ 0⤋
true
2007-08-19 10:29:16 · answer #7 · answered by Anonymous · 0⤊ 0⤋