Estimating and costing inventory is an important function in manufacturing and retailing. Most manufacturing or assembly organizations use the original cost of materials to report inventory. Since ...

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

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Charlene Rhinehart is a CPA , CFE, chair of ...

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 ...