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 ...

It is not always practical for a company to keep track of actual costs of each item in inventory. Goods may be sold in random batches, and it is easy to lose track of inventory costs in relation to ...

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 ...

Few differences between IFRS and U.S. GAAP loom larger than accounting for inventories, particularly the disallowance of the last-in, first-out (LIFO) method in IFRS. The proposed shift of U.S. public ...

Anna Baluch is a freelance writer from Cleveland, Ohio. She enjoys writing about a variety of health and personal finance topics. When she's away from her laptop, she can be found working out, trying ...

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 ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

FASB has issued new financial reporting guidance that is designed to reduce the complexity related to the subsequent measurement of inventory. Accounting Standards Update No. 2015-11, Inventory (Topic ...