Using the Last-In First-Out Inventory Method, the dollar amounts representing Merchandise inventory underneath the Current Asset category of the overall balance sheets represents the costs of the earliest (and oldest) inventory purchased by the managers of this company, which were allocated to the ending inventory called Merchandise inventory.

How can I apply the Last-In First-Out Inventory concept to Supplies and/or baking supplies? I just want to know how use the Last-In First-Out Inventory concept and interpret it in the form of a sentence or sentences using Supplies and/or baking supplies. Is this possible?