Jeff is a writer, founder, and small business expert that focuses on educating founders on the ins and outs of running their business. From answering your legal questions to providing the right ...

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 ...

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 ...

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, ...

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 ...

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 ...

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 ...

Discover how HIFO inventory accounting contrasts with LIFO and FIFO methods, and why it impacts COGS and taxable income, despite not being recognized by GAAP.

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 ...