Date

1960

Document Type

Thesis

Degree

Master of Arts

Department

Applied Mathematics

First Adviser

Trumbull, Wendell P.

Abstract

The LIFO inventory method has been one of the most controversial concepts of accounting for the last two decades. LIFO represents the four words, “last-in, first-out. Under this inventory method, the goods are charged at the most recent acquisition price of stock. This method thus places the inventory on a current cost basis and removes inflationary profits if they are present.

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