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In this case, Shouldn’t we use the criteria of 10 Nov. and 20 Nov. to use the FIFO method? This is because they were stocked first. The 25th and 20th standards are rather LIFO-like.
By all means do if you want to and you will arrive at the same answer.
Given that we assume that we always sell the oldest first, then always the inventory remaining will be the most recent purchases.
It is nothing like LIFO (which is not allowed in financial accounting anyway).
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