Learn how GAAP applies to a company's inventory reserves, using cost or market value methods, and its impact on accounting standards and financial planning.

Inventory includes raw materials, partially finished goods and finished goods. A retail business may have finished goods awaiting shipment, while a manufacturing business may have raw materials and ...

The convergence of accelerating inflation and heightened tariff costs creates optimal conditions for adopting LIFO, but taxpayers need to understand the benefits and act promptly.

Businesses that sell goods need to implement effective inventory control to keep track of assets. Businesses use two primary methods to calculate the ending inventory value: the gross profit or the ...

How LIFO and FIFO accounting methods impact a company's inventory outlook Fact checked by Suzanne Kvilhaug Reviewed by Natalya Yashina All companies must determine how to record the movement of their ...

Learn about the methods of calculating and tracking inventory that are used in retail accounting.

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...

This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. To determine the value of ending inventory and, ultimately, ...

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 ...

Final regulations issued Thursday restate and clarify retailers’ computation of ending inventory value, including the application of common vendor discounts (T.D. 9688). The amendments to Regs. Sec. 1 ...