FIFO (First In, First Out), LIFO (Last In, Last Out) and JIT (Just In Time) are three basic inventory methods that companies can use. It is helpful to first understand the advantages of the FIFO ...

For many companies, inventory represents a large, if not the largest, portion of their assets. As a result, inventory is a critical component of the balance sheet. Inventory can be valued using a few ...

A lot depends on the nature of your business. In some cases accounting methods can actually be part of your business strategy; inventory accounting is one of those methods. Specific identification ...

Inventory is recorded on your company's balance sheet as a short-term asset. The fixed period inventory system is a method you can use to record and track your company's inventory and adjust the ...

This no-brainer technique will help you stay organized and save money. Learn how to use it in your everyday life with these ...

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 ...

What Does FIFO Stand For? FIFO stands for ‘First In, First Out’. It is an accounting method used to track the cost of goods sold (COGS). Under FIFO, the cost of inventory purchased first is recognised ...

Fleetio, a fleet maintenance software, has added new inventory valuation methods to its list of offerings, LIFO and FIFO (Last-In First-Out and First-In First-Out). LIFO-FIFO is an accounting method ...

Do you really need to offer every color in that shoe style OR have 12 diverse types of ketchup on your shelves? The days of abundant inventory offerings will be missed! Leaner inventory levels that ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. * Royal Dutch Shell’s first quarter 2009 earnings, on a current cost of supplies (CCS) basis, were $3.3 billion ...