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→Example
===Example===
===Example===
Using the garden center example above, under LIFO the five items sold are removed at $14 each (the newest cost); the remaining inventory is valued as follows: (15 units x $10) + (15 units x $12) + (10 units x $14) = $470.
Using the garden center example above, under LIFO the five items sold are removed at $14 each (the newest cost); the remaining inventory is valued as follows: (10 units x $10) + (10 units x $12) + (10 units x $14) = $360.
[[Category:Accounting]]
[[Category:Accounting]]