Prepare a report comparing the accounting implications of valuing inventory under FIFO and LIFO methods of a fast moving consumer goods (FMCG) company during a period of rising prices. Provide the required references, if applicable.
Your work should be submitted in a Word document, typed in double-space, in 10- or 12-point Arial or Times New Roman font. It should be 1 page. The page margins on the top, bottom, left side, and right side should be 1 inch each. You should use the APA guidelines for writing and citations.
Evaluation criteria
Keep the following points in mind:
The accounting implications of valuing inventory under FIFO and LIFO methods of an FMCG company during a period of rising prices are accurately identified and explained with pertinent examples.