At the end of every year or other accounting period, accounts dealing with inventory require some adjustments. The purpose of making these adjustments is to update account balances so that they ...

A company's inventory consists of all its raw materials, works in process (goods that are partially completed), completed goods, and merchandise that has been purchased and is being held for sale, ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...