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Oldest stock in case of items with limited shelf life is issued on the basis of LIFFO

ANSWER IS

1)  True

2) False

Auditing Warehouse Management
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Question added by Wasi Rahman Sheikh , Warehouse Supervisor , AL MUTLAQ FURNITURE MFG
Date Posted: 2015/02/06
Upvote (1) Views (6) Followers (5) Answers (4) Report Question
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Ayshathul Haliya Saudhikeen
by Ayshathul Haliya Saudhikeen , Finance Executive , Dubai Properties Group

False. it should be ideally FIFO

Mir Mujtaba Ali
by Mir Mujtaba Ali , Internal Audit Manager , Confidential

No its false>>>>>>>>>>>><<<<<<<<<<<<<<

SYED ZEESHAN HAIDER
by SYED ZEESHAN HAIDER , MANAGER WAREHOUSE , GENERAL FAN COMPANY

False

Oldest Stock with Limited shelf life will issued on FIFO basis.

Jersh On Repolidon
by Jersh On Repolidon , Spare Parts Control , Al Masaood Automoiles

False. Must be FIFO First in First Out

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