Assertion: inventory's cost | /r/HasProperty | allocated to cog
Facets:
value: under fifo
type: OTHER
value: under lifo
type: OTHER
Source sentences:
text: Under LIFO, the cost of the most recent items purchased are allocated first to COGS, while the cost of older purchases are allocated to ending inventory—which is still on hand at the end of the period.
text: Under FIFO, the cost of the oldest items purchased are allocated first to COGS, while the cost of more recent purchases are allocated to ending inventory—which is still on hand at the end of the period.