Inventory costing comes in many different sizes. LIFO, FIFO, weighted average, and moving average are just some of the methods under US GAAP.

Inventory costing comes in many different sizes. LIFO, FIFO, weighted average, and moving average are just some of the methods under US GAAP. Why are there so many methods available under US GAPP and why would a company prefer one over the other?1-2 paragraphs

There are many methods under US GAAP for inventory costing. This is because of the fact that, pricing ofissue of materials in not easy as the pricing of receipts. This is due to reason that...