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What type of inventory system would a pharmaceutical manufacturer have? FIFO, LIFO, or a random one?


Could you also please explain to me why, I'm kind of slow with accounting.

449 day(s) ago

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MariaT 		I could be wrong with this but I believe they would have a FIFO system because they wouldn't want expired products to sell to customers. FIFO means the first product to come in would be the first product to go out for example: if they bring in 40 perscriptions in january and 40 in february, then in march they sell 30 perscriptions, they would sell 30 from januarys inventory, leaving 10 from january and 40 from february.

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Question Title What type of inventory system would a pharmaceutical manufacturer have? FIFO, LIFO, or a random one?
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