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 ...

A perpetual inventory system updates the inventory balance continually, which usually requires real-time tracking of inventory items from purchase to sale. Small businesses may opt for the more ...

Wondering about FIFO vs LIFO? Learn about the two inventory valuation methods and which one is best for you. Many, or all, of the products featured on this page are from our advertising partners who ...

The selection by an entity of its company structure, its fiscal year and its method of accounting are the three main mechanisms that a company can employ in performing substantial tax planning, ...