This is what I get for waiting for the last moment to study.

[dwing]

What the hell is Dollar-Value LIFO? I don't get this accounting idea. Everything else I've seemed to grasp fairly easily except for this thing. It involves removing layers of price index if you have a lower ending inventory compared to your base years index and then... That's where I get lost. If anyone out there have any understanding at all

Comments

LIFO

[iratepr]

All I can tell you is that I've seen this in programming.
Last In - First Out
A stack.

Re: LIFO

[dwing]

The LIFO part wasn't the hard part, it was the "Dollar Value" part that sucked. I figured it out before the test though, it was a lot easier after I dissected the concept. Thanks anyways.