Two common ways for companies to account for inventory are first-in/first-out, or FIFO, and last-in/last-out, or LIFO. In FIFO, the first units that arrive in the business are the first sold. In LIFO, ...

FIFO (first in, first out) and LIFO (last in, first out) are inventory management and accounting techniques designed to add consistency to the sales and accounting functions of business, respectively.

Home Depot, Inc. announced a key change in accounting principals in its third quarter filing with the SEC. After adopting a new enterprise resource planning system, otherwise known in the ...

How LIFO and FIFO accounting methods impact a company's inventory outlook Fact checked by Suzanne Kvilhaug Reviewed by Natalya Yashina All companies must determine how to record the movement of their ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Since 1939, when the Tax Code's treatment of inventory was modified to permit LIFO, managers and accountants have faced a tri-lemma in that they have to choose among FIFO, LIFO and average flow ...

A lot depends on the nature of your business. In some cases accounting methods can actually be part of your business strategy; inventory accounting is one of those methods. Specific identification ...

LAKE FOREST, Ill.--(BUSINESS WIRE)--Pactiv Corporation (NYSE: PTV) today announced a change in accounting for inventories from a combination of the use of the last in, first out (LIFO) method and ...

I know what you’re thinking. “Ugh. Yet another inventory accounting method I have to know.” But when I say “NIFO,” I’m not talking about Next In First Out. I’m talking about Nose In, Fingers Out.

How LIFO and FIFO accounting methods impact a company's inventory outlook Carla Tardi is a technical editor and digital content producer with 25+ years of experience at top-tier investment banks and ...