ACCT 5202 Session 6 Clip, Inventory Discussion, FIFO and LIFO, Converting to FIFO

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Clip from session on 2/20/2020 in spring 2020.

This clip discusses the following spreadsheet to illustrate FIFO vs LIFO and to discuss using annual report disclosures to estimate FIFO from LIFO information. Also a discussion of LIFO liquidations.