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In process costing which method is more beneficial - FIFO or LIFO

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تم إضافة السؤال من قبل Panuganty AnilKumar , Chief Financial Officer
تاريخ النشر: 2015/04/12
KHAN IRFAN
من قبل KHAN IRFAN , CFO , AL Nasser Sport Group

Generally FIFO is best method but LIFO can be used depend upon the circumstance  of Business Requirements 

walid mohamed sherif
من قبل walid mohamed sherif , Chief Of Managerial Accounting , AL Yamamah Steel Industries

FIFO is best because in process costing you make to stock which mean that the goods might lay in stock for a long time then its better to release the first produced to avoid high inventory aging 

Muhammad Zargham Haider
من قبل Muhammad Zargham Haider , Head of Business Analysis Team , 99 Consulting (Pvt) Ltd

FIFO is much better method to be used

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