Houston Chronicle

What Are the Implications of Using LIFO and FIFO Inventory Methods?

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, ...
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Fleetio unveils LIFO / FIFO parts inventory valuation methods

Accounting and parts tracking can be some of the most challenging chores for fleet managers. To help, Fleetio added new inventory valuation methods to its list of offerings on Tuesday — LIFO / FIFO ...
Houston Chronicle

What Inventory Method Gives the Most Realistic Net Income?

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 ...

Key Methods for Calculating Business Costs Effectively

Discover essential methods for calculating business costs and their tax implications. Learn how accountants and producers ...