Accounting for IGCSE & O level - Final Statements (Section 3 - No. 38)

Describe the three methods of valuing inventory

FIFO, LIFO, AVCO

FIFO, AVCO, Weighted Average

FIFO, LIFO, Weighted Average

FIFO, LIFO, Standard Cost

The three main methods are First-In, First-Out (FIFO), Last-In, First-Out (LIFO), and Average Cost (AVCO).