Calculate Cost of Goods Sold: FIFO Method Explained

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

Understanding LIFO Reserve: Definitions, Calculations, and Tax Benefits

Discover the importance of LIFO Reserve in accounting, including its calculation, comparison with FIFO, and impact on taxes.
Houston Chronicle

The Advantage of the FIFO Inventory Method

FIFO (First In, First Out), LIFO (Last In, Last Out) and JIT (Just In Time) are three basic inventory methods that companies can use. It is helpful to first understand the advantages of the FIFO ...
Houston Chronicle

FIFO vs. Fixed Period Inventory System

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 ...
CBS News

LIFO vs FIFO Inventory Accounting at Home Depot

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 ...