When it comes time for businesses to account for their inventory, businesses may use the following three primary accounting methodologies: FIFO stands for "first in, first out," where older inventory ...

A lot depends on the nature of your business. In some cases accounting methods can actually be part of your business strategy; inventory accounting is one of those methods. Specific identification ...

Estimating and costing inventory is an important function in manufacturing and retailing. Most manufacturing or assembly organizations use the original cost of materials to report inventory. Since ...