Last-in, first-out (LIFO) and first-in, first-out (FIFO) are two common inventory valuation methods used by companies in accounting. Inventory valuation is the process of assigning value to materials, ...

Many crypto traders face massive tax bills for 2017. Which accounting method they apply could change their tax bills by tens of thousands of dollars. Specific identification vs. FIFO The IRS wants the ...

There are two methods of accounting for inventory that affect a business's reported profits and taxable revenues: FIFO and LIFO. FIFO, first-in first-out, keeps the first inventory stocked on the ...

Although it’s vital for every business to keep an accurate record of their money, retailers face unique challenges in accounting and maintaining proper financial records: monitoring and calculating ...

Fleetio, a fleet maintenance software, has added new inventory valuation methods to its list of offerings, LIFO and FIFO (Last-In First-Out and First-In First-Out). LIFO-FIFO is an accounting method ...