Question
Please, explain the LIFO method of inventory costing and what adjustments might be necessary when comparing a company using IFRS and another company using U.S.
Please, explain the LIFO method of inventory costing and what adjustments might be necessary when comparing a company using IFRS and another company using U.S. GAAP. Why do you think IFRS does not allow LIFO? Why would U.S. firms be against eliminating the use of LIFO?
Please provide sources and a four paragraph response.
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Strategic Managerial Accounting: Hospitality, Tourism & Events Applications
Authors: Tracy Jones, Helen Atkinson, Angela Lorenz, Peter Harris
6th Edition
9781908999023, 978-1908999016
