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+--- Thread: FIFO/LIFO GAAP Standard? (/showthread.php?tid=5715)
FIFO/LIFO GAAP Standard? - axel15810 - 04-18-2009
Is there an accounting standard that specifically deals with LIFO/FIFO? Just wondering. It's such a basic accounting concept that I can't even find an accounting standard that lays out the accounting for each method.
- wasim akram - 04-18-2009
Read IAS 2 CAREFULLY SPECIALLY Benchmark treatment and Allowed alternative treatment.
If you are related to accounting profession then please study and try to understand first before qouting.