How a company values its inventory affects its income statement and bottom line. "Average cost" and "last in, first out," or LIFO, are two of the most common methods for valuing inventory. Both rely ...

Discover the key differences in inventory accounting between GAAP and IFRS, including valuation methods, write-down reversals ...

The proper management of inventory is critical for any size business. The way a company values its inventory can be the difference between a profit and loss. In fact, inventory valuation affects a ...

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 ...

When disaster hits, the last thing you want is to argue about what you owned and what it was worth. Yet that is exactly where ...

Discover NIFO, a unique inventory valuation method based on replacement cost instead of original cost, its working mechanism, ...

For many companies, inventory represents a large, if not the largest, portion of their assets. As a result, inventory is a critical component of the balance sheet. Inventory can be valued using a few ...

Choosing the best approach to counting the value of your inventory is essential to determining your business's true value. These three options provide different benefits that could make the difference ...

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 ...

The Internal Revenue Service has reversed itself on the rolling-average method of valuing inventory and will now consider it valid for tax purposes. The IRS has traditionally viewed rolling-average ...