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FIFO/LIFO GAAP Standard?
04-18-2009, 10:05 AM
Post: #1
FIFO/LIFO GAAP Standard?
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.
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04-18-2009, 04:36 PM
Post: #2
 
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.
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