While the weighted average method is a generally accepted accounting principle, this system doesn’t have the sophistication needed to track FIFO and LIFO inventories. First In, First Out (FIFO ...
Bruns, William J., Jr., Sharon Bruns, and Susan S. Hameling. "Merrimack Tractors and Mowers: LIFO or FIFO?" Harvard Business School Brief Case 083-217, December 2008.