Determining the cost or valuation of inventory held in a company is an important management task. Inventory often represents a large portion of total assets on the balance sheet and the method used to ...

Managers have many choices when it comes to accounting for inventory. Regardless of whether your small business uses a periodic or perpetual system, you must establish a method to determine the cost ...

What Is Last In, First Out (LIFO)? Last in, first out (LIFO) is a method used to account for business inventory that records the most recently produced items in a series as the ones that are sold ...

Wondering about FIFO vs LIFO? Learn about the two inventory valuation methods and which one is best for you. Many, or all, of the products featured on this page are from our advertising partners who ...

Anna Baluch is a freelance writer from Cleveland, Ohio. She enjoys writing about a variety of health and personal finance topics. When she's away from her laptop, she can be found working out, trying ...

Discover the importance of LIFO Reserve in accounting, including its calculation, comparison with FIFO, and impact on taxes. Learn how it improves financial analysis.

Accounting and parts tracking can be some of the most challenging chores for fleet managers. To help, Fleetio added new inventory valuation methods to its list of offerings on Tuesday — LIFO / FIFO ...

During inflationary times, companies can reduce their taxable income by using the last-in, first-out (LIFO) cost flow assumption for inventories. However, the tax savings from using LIFO come at a ...

Home Depot, Inc. announced a key change in accounting principals in its third quarter filing with the SEC. After adopting a new enterprise resource planning system, otherwise known in the ...

The impact of reduced new-vehicle inventories and the resulting LIFO recapture continues to be a major concern for dealers. The National Automobile Dealers Association has been very active for more ...

In the glittering world of gold, some jewellers have reportedly been playing a clever game, not with the jewellery, but with the accounting books. ET had earlier reported that the Income Tax (I-T) ...