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