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Why is COGS more expensive for LIFO? What do they mean when they say they assign the...

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Accounting

Whyis COGS more expensive for LIFO? What do they mean when they saythey assign the latest Cost of goods purchased to cost of goodssold? Why is it expensed differently

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COGS refers to the cost of goods which are sold LIFO last in last out is the method of valuing inventory and finding the cost of goods sold Let us understand LIFO with the help of an example Suppose Following details are    See Answer
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Whyis COGS more expensive for LIFO? What do they mean when they saythey assign the latest Cost of goods purchased to cost of goodssold? Why is it expensed differently

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