View this short introduction to the discussion.
Per the video summary, there are three (3) primary inventory costing methods used by companies: LIFO, FIFO, and Weighted Average. With each method comes a number of pros and cons that a company must consider when implementing its inventory management strategy. Select a company below and discuss the advantages associated with its chosen inventory costing method.
Target – Uses LIFO
Amazon – Uses FIFO
FedEx – Uses Weighted Average