Replying to @i in intro accounting class we learn three inventory cost flow assumptions (specific identification tracks each item and is therefore not an assumption): FIFO (first-in first-out), LIFO (last-in first-out), and average cost. We use these to compute our cost of goods sold. Even though perpetual inventory systems are much more common for large companies, I illustrate these cost flow assumptions using a periodic system. #accounting #study #explained #inventory #lifo #fifo #averagecost

FIFO Inventory Costing

✨What is TPN✨, Total parenteral nutrition (TPN) is a medical treatment that provides all the necessary nutrients directly into the bloodstream through a catheter that sits right above my heart. It is used when a person is unable to eat or absorb nutrients through their digestive system. And yes I'm also on tube feeds at a trickle rate aka very slow rate so I don’t get sick. The reason for that is we still want to preserve as much gut function as I can despite having malabsorption issues and inte

Loves people. Doesn’t love being around them. | love