Discover how the FIFO method simplifies COGS calculations, using examples and comparisons to enhance your financial ...

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 ...

Determining the value of inventory is an important part of accounting. In order to calculate the profit on a sale, a cost must be assigned to the item sold. A business that is selling large amounts of ...

QuickBooks is designed to be a simple accounting and bookkeeping software suite. In the spirit of simplicity, it limits decisions that are within the Generally Accepted Accounting Principles.

Learn how the specific identification method lets you track individual inventory costs and improve sales insights. Ideal for ...

Anna Baluch is a freelance writer from Cleveland, Ohio. She enjoys writing about a variety of health and personal finance topics. When she's away from her laptop, she can be found working out, trying ...

FIFO is the most logical choice since companies typically use their oldest inventory first in the production of their goods. Deciding between these two inventory methods has implications for a company ...