Question: What is the difference between FIFO, LIFO and Average Cost Method? What is the impact of FIFO, LIFO and Average cost method amongst income statements

What is the difference between FIFO, LIFO and Average Cost Method?

What is the impact of FIFO, LIFO and Average cost method amongst income statements and balance sheets?

What are the depreciation methods for PPE? What is the impact of each depreciation method on the income statement and balance sheet?

What is the asset sale in regards to financial statement impact?

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