What is fifo and lifo
First in first out means issue of goods on earlier units and balance on latest units* Last in first out means issue on latest units and balance on earlier units. These mathods of valuation of inventory.
First in first out and last in first out.
In fifo method high profit
FIFO- first in first out
LIFO- Last in first out.
It means first in first out those inventory whose were coming frist and vice versa for the last in last out
i thing u got my point