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, ...

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.

Although rising prices increase the cost of your inventory purchases, rising prices affect LIFO (Last-in, First-out) and FIFO (First-in, First-out) inventory values differently. Each inventory ...

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 ...

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

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 ...

Fleet maintenance software Fleetio has added new inventory valuation methods to its offerings: LIFO / FIFO (last-in first-out, first-in first-out). LIFO / FIFO is an accounting method for customers to ...

USA TODAY markets reporter Matt Krantz answers a different reader question every weekday. To submit a question, e-mail Matt at mkrantz@usatoday.com. Q: How does "LIFO" and "FIFO" affect how much tax ...

You may have heard that the first in, first out method is the best inbox management strategy. Ignore that—last in, first out ...