Two common ways for companies to account for inventory are first-in/first-out, or FIFO, and last-in/last-out, or LIFO. In FIFO, the first units that arrive in the business are the first sold. In LIFO, ...

What accounting method do you use to value your inventory? The inventory valuation method you choose can affect amount of taxes you pay the government. Got your attention now? LIFO and FIFO are the ...

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 ...

Learn how the flow of costs impacts manufacturing firms, covering raw materials, work-in-process, finished goods, and cost of goods sold with practical examples and methods.

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 ...

When it comes time for businesses to account for their inventory, businesses may use the following three primary accounting methodologies: FIFO stands for "first in, first out," where older inventory ...

When you decide to sell a portion of your holdings in a stock, you have to decide which shares you actually want to sell. Two of the most common methods used in this decision are known as FIFO and ...

Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed various community and nonprofit organizations. She has conducted in-depth research on social and economic issues ...

LIFO vs. FIFO: Inventory Valuation LIFO Since LIFO uses the most recently acquired inventory to value COGS, the leftover inventory might be extremely old or obsolete. As a result, LIFO doesn't provide ...