How a company values its inventory affects its income statement and bottom line. "Average cost" and "last in, first out," or LIFO, are two of the most common methods for valuing inventory. Both rely ...

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 ...

Inventory includes raw materials, partially finished goods and finished goods. A retail business may have finished goods awaiting shipment, while a manufacturing business may have raw materials and ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...

Jeff is a writer, founder, and small business expert that focuses on educating founders on the ins and outs of running their business. From answering your legal questions to providing the right ...

When disaster hits, the last thing you want is to argue about what you owned and what it was worth. Yet that is exactly where ...