Definicja LIFO valuation procedure (FIN-BAC-INV)
Method of valuating similar inventory assets which assumes that the most recently acquired assets are disposed of first.
Acquisition of new inventory does not affect the value of older inventory. When prices are rising, the LIFO method avoids overvaluation of older inventory and the creation of inventory profits.
There are two types of LIFO valuation:Quantity-based Value-based
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