Charges, included in cost of goods sold for inventory write-downs
what is the understanding behind this sometimes we’re adding and subtraction form FIFO[while converting LIFO to FIFO]
- NI (adjusted) = NI (FIFO method) + Charges, included in cost of goods sold for inventory write-downs, after tax
- COGS (adjusted) = COGS (LIFO method) – Charges included in cost of goods sold for inventory write-downs – Change in LIFO reserve
tum reversal of inventory write down ka case puch rhe ho??
no while converting LIFO to FIFO{I under stand LIFO reserve but what is this Charges, included in cost of goods sold for inventory write-downs and why -/+}