What is the most preferable Costing Method for stock??
Lifo, fifo, avg.cost, Monthly Avg.Cost, Std.Cost????
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FIFO is best method
It depends on many factors. If prices are too fluctuating then the average price method is preferred. FIFO is widely used as it is more logical. If price movements are negligible standard price method is used.
FIFO is best method for costing.
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