Inventory is recorded on your company's balance sheet as a short-term asset. The fixed period inventory system is a method you can use to record and track your company's inventory and adjust the ...

LouAnn Lofton breaks down this important financial statement component. Inventory may not be the sexiest topic around; I'll grant you that. Maybe in my next column, we'll uncover Victoria's Deep Dark ...

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

Fleet maintenance software Fleetio has added new inventory valuation methods to its offerings: LIFO / FIFO (last-in first-out, first-in first-out). LIFO / FIFO is an accounting method for customers to ...

What Does FIFO Stand For? FIFO stands for ‘First In, First Out’. It is an accounting method used to track the cost of goods sold (COGS). Under FIFO, the cost of inventory purchased first is recognised ...

As you operate a small business, your inventory -- the stock of goods or products -- forms the foundation of your enterprise. If your stock isn't too extensive, the task of taking inventory should be ...