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Example of LIFO

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In above, screencaste, you can understand that first time issue material of 90 units will be charged last purchase price. It is assumed that last purchased material has been issued for production, so we are charging last purchase price in the first issue of material. Ok and because material issue is more than last quantity of purchase, so, we will take next purchase price till the issue quantity will not fulfill.

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Accounting Education: Example of LIFO
Example of LIFO
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Accounting Education
https://www.svtuition.org/2010/08/example-of-lifo.html
https://www.svtuition.org/
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