Calculate Cost of Goods Sold: FIFO Method Explained

Discover how the FIFO method simplifies COGS calculations, using examples and comparisons to enhance your financial ...

HIFO Accounting Explained: Differences With LIFO and FIFO

Discover how HIFO inventory accounting contrasts with LIFO and FIFO methods, and why it impacts COGS and taxable income, ...
Auto Remarketing

Fleetio unveils LIFO / FIFO parts inventory valuation methods

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 ...
Outlookindia

What’s The Difference Between FIFO, LIFO, And Specific Identification In Crypto Tracking?

Every crypto investor eventually faces an important question: When I sell my crypto, how do I determine which coins I have actually sold? Because each of these digital assets is purchased at different ...
JournalofAccountancy

Auto dealer stumbles on LIFO termination reversal

The Tax Court held that a business taxpayer’s automatic consent request to change from the last-in, first-out (LIFO) inventory method failed due to defects in its Form 3115, Application for Change in ...
Automotive News

Why LIFO relief for car dealers from Treasury may be preferable to alternatives

The impact of reduced new-vehicle inventories and the resulting LIFO recapture continues to be a major concern for dealers. The National Automobile Dealers Association has been very active for more ...