First out receivable
First in first out
Last in first out
last out receivable
✅ The correct answer is B.
A method of inventory recording which produces high inventories in balance sheet is classified as First in first out. First in, first out (FIFO) is an asset-management and valuation method in which the assets produced or acquired first are sold, used or disposed of first and may be used by an individual or a corporation.
A method of inventory recording which produces high inventories in balance sheet is classified as First in first out. First in, first out (FIFO) is an asset-management and valuation method in which the assets produced or acquired first are sold, used or disposed of first and may be used by an individual or a corporation.