Find the best answers to your questions at Westonci.ca, where experts and enthusiasts provide accurate, reliable information. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

all purchase/sale transactions are made on credit. the company uses the fifo method and perpetual inventory system to record transactions. what is the amount of lifo adjustment needed to adjust fifo inventory records reported for the year to lifo for external reporting purposes?