Houston Chronicle

What Are the Implications of Using LIFO and FIFO Inventory Methods?

Last-in, first-out (LIFO) and first-in, first-out (FIFO) are two common inventory valuation methods used by companies in accounting. Inventory valuation is the process of assigning value to materials, ...

Understanding Flow of Costs in Manufacturing: Methods and Examples

Learn how the flow of costs impacts manufacturing firms, covering raw materials, work-in-process, finished goods, and cost of goods sold with practical examples and methods.
Houston Chronicle

FIFO vs. Fixed Period Inventory System

Inventory is recorded on your company's balance sheet as a short-term asset. The fixed period inventory system is a method you can use to record and track your company's inventory and adjust the ...
The Motley Fool

Inventory Ins and Outs

LouAnn Lofton breaks down this important financial statement component. Inventory may not be the sexiest topic around; I'll grant you that. Maybe in my next column, we'll uncover Victoria's Deep Dark ...
Harvard Business School

Merrimack Tractors and Mowers: LIFO or FIFO? (Brief Case)

Bruns, William J., Jr., Sharon Bruns, and Susan S. Harmeling. "Merrimack Tractors and Mowers: LIFO or FIFO? (Brief Case)." Harvard Business School Teaching Note 083 ...
For Construction Pros

Fleetio Adds LIFO and FIFO Inventory Features to Software

Fleetio, a fleet maintenance software, has added new inventory valuation methods to its list of offerings, LIFO and FIFO (Last-In First-Out and First-In First-Out). LIFO-FIFO is an accounting method ...
JournalofAccountancy

Taking the Complexity Out of Simplified Lifo

Please note: This item is from our archives and was published in 2001. It is provided for historical reference. The content may be out of date and links may no longer function. THE IRS HAS PROPOSED ...