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What are three main reasons lifo works for a retail company

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Reference no: EM132805491

The main feature of the LIFO (last-in, first-out) method for cost of goods sold is that it selects the item you purchased first, and then works backward until you have the total cost for the total number of units sold during the period.

Problem 1: In bullet format, what are the three main reasons LIFO works for a retail company?

Reference no: EM132805491

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