Discover how HIFO inventory accounting contrasts with LIFO and FIFO methods, and why it impacts COGS and taxable income, despite not being recognized by GAAP.

Learn how the flow of costs impacts manufacturing firms, covering raw materials, work-in-process, finished goods, and cost of goods sold with practical examples and methods.

Through the representation of the assets that a company owns and the liabilities it owes to others, the balance sheet illustrates an organization's financial well-being. The balance sheet also ...

Choosing an inventory method for a company is more than an accounting formality. Settling on either LIFO or FIFO as an inventory valuation method can affect the appearance of a company's income, ...

Home Depot, Inc. announced a key change in accounting principals in its third quarter filing with the SEC. After adopting a new enterprise resource planning system, otherwise known in the ...

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 ...

LAKE FOREST, Ill.--(BUSINESS WIRE)--Pactiv Corporation (NYSE: PTV) today announced a change in accounting for inventories from a combination of the use of the last in, first out (LIFO) method and ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Same-store sales, margins, inventory levels — these are some of the metrics investors look at when it comes to ...