Sharada Industries 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