Calculate Cost of Goods Sold: FIFO Method Explained

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

Understanding LIFO Reserve: Definitions, Calculations, and Tax Benefits

Discover the importance of LIFO Reserve in accounting, including its calculation, comparison with FIFO, and impact on taxes.
Houston Chronicle

Inventory Costing Methods in QuickBooks

QuickBooks is designed to be a simple accounting and bookkeeping software suite. In the spirit of simplicity, it limits decisions that are within the Generally Accepted Accounting Principles.
Fleet Owner

Fleetio adds new options to inventory management software

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 ...
Houston Chronicle

Inventory Methods That Result in the Lowest Taxable Income in a Period of Decline

Inventory can consist of merchandise you prepare for retail sale or products you create from raw materials and labor. In either case, you don't expect to sell all your inventory in a single ...