red herrings (misleading traps) thread - please post for benefit of all

Under FIFO, average cost(weighted cost) and periodic produce the same figures as FIFO.
Under LIFO, average cost, periodic, produce different results.
 
I thought FIFO and weighted average cost are two totally different methods. Within FIFO the only method within it are periodic/perpetual. I am checking CFAI and this is what I see - I am confused now. Please explain why you are clubbing weighted average cost under FIFO. Thanks
 
Sorry, I got confused.
Yes, there is average, Fifo and Lifo.
Under Fifo, perpetual and periodic produce the same results as FIFO.
Under weighted and LIFO, periodic and perpetual produce different results than LIFO.
Sorry for the confusion
 
Good - i almost forgot abt the weighted and LIFO having different outcomes under periodic/perpetual. Thansk
 
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