In the United States, small businesses can choose from one of several inventory accounting methods, including "first in first out," or FIFO; "last in first out," or LIFO; and average cost. Each of ...

Last-in, first-out (LIFO) and first-in, first-out (FIFO) are two common inventory valuation methods used by companies in accounting. Inventory valuation is the process of assigning value to materials, ...

Discover essential methods for calculating business costs and their tax implications. Learn how accountants and producers ...

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 ...