Discover how Dollar-Value LIFO works in inventory accounting, its advantages in inflationary times, and its impact on financial statements and tax savings.

Since the price of products continually changes due to inflation and consumer demand, valuing current inventory can be challenging. FIFO, or first in, first out, is an accounting method used to ...

Figuring the cost of goods sold is simple if you sell dozens of interchangeable items. One non-stick frying pan is much like another, for instance, so you don't need to tie specific costs to a ...

Inventory management is a critical skill for business managers and a major consideration for investors and economists. To understand the subtlety of this art, we can use a quantitative metric -- ...

Steven Nickolas is a writer and has 10+ years of experience working as a consultant to retail and institutional investors. Eric's career includes extensive work in both public and corporate accounting ...

Inventory is typically the largest balance sheet asset in most merchant companies. Accurate inventory is required to not only deliver timely and stellar customer service but also calculate ...