defour44

I've put a summary together based on my understanding of the instructions on page 175, vol2 of which rates to use when translating using temporal method, as it pertains to cost flow assumption. Can someone please advise if it's correct.

Under temporal method:

FIFO:
COGS - hist
INV - curr

LIFO:
COGS - curr
INV - hist

Avg cost:
COGS and INV - wt. avg rate