I already know what the different inventory cost flow assumptions are, but what I do not know is how might the choice of cost flow assumption affect the company's cost of goods sold and ending inventory balance? Can somebody please explan this to me?
accounting - SraJMcGin, Thursday, May 26, 2011 at 6:27pm
You might try some of the following sites to see if that question is covered:
accounting - Nick, Friday, May 27, 2011 at 12:46pm
They do not cover this question, they explain what the assumptions are, what they do, and how they work. They do not explain how the choice cost flow assumption might affect the company's cost of goods sold and ending inventory balance.