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Fifo & Lifo
Essay specific features
Written by:
Scott R
Date added:
December 23, 2016
Level:
University
Grade:
B
No of pages / words:
8 / 2046
Was viewed:
4264 times
Rating of current essay:
Essay content:
First-In-First-Out (FIFO) 5
3. Comparison between LIFO and FIFO 6
PART 4 CASES STUDY 7
Case 1 – Law Firm 7
Case 2 – Furniture Manufacturing Industry 7
Case 3 – Bakery 8
PART 5 CONCLUSION 9
PART 1 INTRODUCTION
This report to distinguish between and identify companies that may use the “Job Order Costing” and “Process Costing” which are the major types of costing systems that used in manufacturing and service company...
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Both of the costing methods are widely used to track costs and will be selected upon the level of details needed and the desires of management. Details will be described in Part 2.
Other than the costing systems, we should have good inventory control system as well. Inventory may consist of finished goods, work-in-process, raw materials, goods for resale and spare parts that held by the company...
displayed 300 characters
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