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 ...

The acronyms FIFO and LIFO identify methods for figuring the cost of goods sold when the price of your inventory has changed over time. With LIFO, you determine the price by assuming the most recent ...

This no-brainer technique will help you stay organized and save money. Learn how to use it in your everyday life with these tips. FIFO stands for "first in, first out" and is used both commercially ...