Discussion Post: Health Care Accounting
Review the last-in, first-out (LIFO) and first-in, first-out (FIFO) inventory methods discussed in Ch. 6, "Reporting and Analyzing Inventory" of Accounting.
Respond to the following in a minimum of 175 words:
1) Explain LIFO and FIFO inventory methods.
2) Provide 1 example of a business that uses LIFO and 1 example of a business that uses FIFO.
3) Explain why the businesses you identified might use a particular inventory method.
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.