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Using the periodic and perpetual systems will deliver the same results when using LIFO. Is this phrase true or false? and why?

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Question added by Abdullah Aziz Eldain Morsi Elgendy - CMA Candidate , Regional Receivable Accountant , Amiantit Group of Companies
Date Posted: 2017/05/22
Moataz Elsabawy
by Moataz Elsabawy , مدير مالى , مجموعه شركات الانصار

The phrase is false because in perpetual method the cost is calculated after any out movement of inventory whether for production or selling .

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