CPA Exam Practice Questions | Inventory FIFO LIFO | Intermediate Accounting

In this video, I discuss CPA exam practice questions. CPA candidates need to practice CPA exam questions in order to succeed on the CPA exam. ON my website, www.farhatlectires.com, you will find plenty of CPA exam practice questions.
Are you a CPA candidate or accounting student? Check my website for additional resources such exam questions and notes:farhatlectures...
Connect with me on LinkedIn:
/ professorfarhat
Instagram Account: @farhatlectures
Facebook: @accountinglectures
Twitter: @farhatlectures
Email: [e-mail]
#CPAEXAM #intermediateaccounting#accountingstudent
The Last-In, First-Out (LIFO) method assumes that the last unit to arrive in inventory or more recent is sold first.
The First-In, First-Out (FIFO) method assumes that the oldest unit of inventory is the sold first.
LIFO is not realistic for many companies because they would not leave their older inventory sitting idle in stock.
FIFO is the most logical choice since companies typically use their oldest inventory first in the production of their goods.

[@saigeethakumar5448]

Hi Sir, Just amazing explanation!! Have no words to thank you for making this so clear.
I STRONGLY recommend all CPA candidates out there to watch this before going for exam.

[@AccountingLectures]

Thank you. Please connect with me: linktr.ee/farhatlectures

[@WendyThorntonMASR]

Thank you for the clarity!

[@AccountingLectures]

Thank you and please visit the website for more farhatlectures.com/ Start your free trial!
Contact me for more info:
LinkedIn: www.linkedin.com/in/professorfarhat
Facebook: facebook.com/farhatlectures
Instagram: instagram.com/farhatlectures/?hl=en
Reddit: www.reddit.com/user/Farhatlectures

[@nehakothare7645]

Thank you so much for your videos! They have been helping me a lot and clarify topics.

[@AccountingLectures]

You are so welcome! Please connect with me: linktr.ee/farhatlectures

[@tedkasaye5897]

Let us know if you provide training over zoom, great video

[@mohabuleenhaneen8315]

Hope you are doing well professor and thanks for your lectures

[@AccountingLectures]

You are most welcome. Please subscribe and share. If you want to access more resources, check my website:
✔farhatlectures.com/
✔Instagram: @farhatlectures
✔ Linkedin: www.linkedin.com/in/professorfarhat/
✔Facebook:@accountinglectures
✔Twitter: @farhatlectures
🎤Email: [e-mail]

[@markmower1746]

@@AccountingLectures hi

[@Dailycutecats]

🙇🏻‍♂️

[@AccountingLectures]

You are most welcome. Please subscribe and share. If you want to access more resources, check my website:
✔farhatlectures.com/
✔Instagram: @farhatlectures
✔ Linkedin: www.linkedin.com/in/professorfarhat/
✔Facebook:@accountinglectures
✔Twitter: @farhatlectures
🎤Email: [e-mail]

[@omaradam6924]

Teacher do you use zoom