LIFO FIFO summary - Nicki I have completed your FIFO and LIFO transactions and have found some interesting results To put it in simple terms LIFO method

LIFO FIFO summary - Nicki I have completed your FIFO and...

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Nicki,I have completed your FIFO and LIFO transactions and have found some interesting results. To put it in simple terms LIFO method would be better for your business. While not all the costs of goods forLIFO were less, the overall money you saved if you chose LIFO is about 250 dollars more than the FIFO method. You will save for Water bottles is $103.5 along with $150 in savings on Bags. The other two products will be a little more expensive but the cost margins are too small to affect the total savings.

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