Photos are intended for general color reference only. Refer to Color Chart for actual color samples. Hawthorne Starfire Acrylic Urethane Auto Paint is a premium quality, single-stage OEM/Refinishing System which provides excellent gloss and durability in an easy to apply economical single-stage package.
Different cost of goods sold and inventory values us ually result from different cost flow assumptions. During periods of rising prices, FIFO produces lower cost of goods sold, higher ending inventory, and. higher gross profit (and income) than LIFO because FIFO includes the oldest and lowest costs in cost.
LIFO or Last-in First-out Method. This inventory costing method is the exact opposite of FIFO, wherein the remaining inventory at year end will be valued at the unit cost based on the earliest purchase prices, which may include the cost of the goods based on previous yearâs price records.