06-25-2010, 07:28 PM
Suppose that you have been using the LIFO (Last in first out) inventory method in your business for the last 15 years. You are much worried because during the current year one of you major supplier is unable to make deliveries that can result in depletion of inventory levels up till the year end.
Explain, what would be the effect on Profits of the business and Income
Explain, what would be the effect on Profits of the business and Income
