LIFO Method Example for Cost of Goods Sold Calculation

The video tutorial explains the LIFO method using the Delta Company example. It begins with a setup similar to previous videos and focuses on calculating the cost of goods sold (COGS) using the LIFO method. The instructor details the process of expensing 29 units, starting with the most recent purchase, and completes the journal entry. The video concludes with calculating gross profit and ending inventory, providing a comprehensive understanding of the LIFO method.

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