Several methods exist for valuing inventory on hand. The university allows First-In, First-Out (FIFO) and Weighted Average methods. There are advantages and disadvantages to both, but each assigns a ...

When disaster hits, the last thing you want is to argue about what you owned and what it was worth. Yet that is exactly where ...

The accounting for the costs of inventory depends on the cost flow method you chose. The four ones in common use are last in, first out (LIFO), first in, first out (FIFO), specific identification and ...

Discover the key differences in inventory accounting between GAAP and IFRS, including valuation methods, write-down reversals ...

Inventory methodology is used to measure the value of assets as well as determine the cost of goods sold during a year. The choice is important, and it may be tempting to use different methods for ...

A lot depends on the nature of your business. In some cases accounting methods can actually be part of your business strategy; inventory accounting is one of those methods. Specific identification ...