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Which one is the best method to calculate Closing stock (Inventory)? 1. FIFO Method 2. LIFO Method 3. Average cost

Inventory Management
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Question added by Abbas Bharmal CA Inter M com Looking for New , Senior Accountant , Msheireb Properties
Date Posted: 2015/05/28
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RAVI KUMAR
by RAVI KUMAR , Supply Chain Executive , Riyadh Cables Group of Companies

According to my last12 years experience in WMS, we have been following our complete transactions FIFO method. it is more comfortable and traceable way to inventory closing.

 

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