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 ...

There are two methods of accounting for inventory that affect a business's reported profits and taxable revenues: FIFO and LIFO. FIFO, first-in first-out, keeps the first inventory stocked on the ...

The inventory costing method your company uses directly affects your "cost of goods sold," which is an expense. The higher the expense you report, the lower your net income, and thus the lower your ...

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 ...

On May 1st, I posted about Haverty’s earnings release. Two things popped out at me in that quarterly report. First, Haverty’s decided to push credit to sell furniture instead of lowering prices and ...

Discover why IFRS prohibits LIFO accounting, including issues like distorted financials, outdated inventory values, and potential earnings manipulation.

How LIFO and FIFO accounting methods impact a company's inventory outlook Carla Tardi is a technical editor and digital content producer with 25+ years of experience at top-tier investment banks and ...

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 ...