Alok International Store Supervisor Interview Questions and Answers

LIFO (Last In, First Out) and FIFO (First In, First Out) are inventory management methods used to track the flow of goods in a store.

• LIFO method assumes that the last items added to inventory are the first ones sold or used.

• FIFO method assumes that the first items added to inventory are the first ones sold or used.

• LIFO is often used in situations where prices are rising, as it can result in lower taxable income.

• FIFO is...read more