Explanation

Common stock valuation methods include FIFO (First In First Out), LIFO (Last In First Out), and Base Stock method. These methods determine which items are sold first when calculating costs.

“Standard method” is not a recognized inventory valuation technique. It might confuse standard costing, which is different from valuing physical stock items.

Remember the three main methods: FIFO assumes oldest stock sells first. LIFO assumes newest stock sells first. Base method keeps minimum stock level constant.