The remaining items to assess each item affects the financial statements are different, such as
income statement: FIFO method will give a better performance in other ways, both continuous and periodic way, but to the FIFO method, the tax savings are margins lower than other ways
balance sheet: FIFO method to display an item's on-hand is better than any other method LIFO method section shows the financial position is not good due to appraise this method uses the first purchase price which is lower than the cost price of buying time again
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