Laser Printer, Last In First Out, Law




Laser Printer, Last In First Out, Law :




Laser Printer : an electrostatic printer that with the help of laser technology creates images of a high quality



Last In First Out : a system of inventory valuation that confers the removal of material in an order that is the reverse of their entry, thus, suggesting to match the cost of the most recently entered material with oldest revenue. During the period of rising prices, it is argued that this system minimises the value of the inventory lying the warehouse which leads to the reporting of a lower taxable income



Law : the rules and regulations of conduct that are established and put into action by the governing authority : The branch of knowledge that deals with the rules of conduct laid down by the legislation, custom or tradition




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