While LIFO produces a lower tax liability, the FIFO method tends to report a higher net income, which can make the company more attractive to shareholders. It also reports a higher value for current ...

Determining the cost or valuation of inventory held in a company is an important management task. Inventory often represents a large portion of total assets on the balance sheet and the method used to ...

Businesses that manage inventory must rely on generally accepted principles of accounting, or GAAP, to assess and plan for their stock levels. Without inventory valuation, it would be difficult for ...

Accounting and parts tracking can be some of the most challenging chores for fleet managers. To help, Fleetio added new inventory valuation methods to its list of offerings on Tuesday — LIFO / FIFO ...

Fleet maintenance software Fleetio has added new inventory valuation methods to its offerings: LIFO / FIFO (last-in first-out, first-in first-out). LIFO / FIFO is an accounting method for customers to ...

Under FIFO, inventory would be valued at $1,600 (400 at $1.25 + 1,000 at $1.10). Cost of sales would be $1,750 ($0 + $3,350 – $1,600), and gross profit would be $1,290 ($3,040 – $1,750). Under LIFO, ...

This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. To determine the value of ending inventory and, ultimately, ...

The value of the current period's ending inventory is more than just a number; it's a critical indicator of a company's financial health, operational efficiency, and future profitability. Accurate ...