Companies have used the retail method of inventory accounting for many years. According to the Committee on Ways and Means, the retail inventory method has been the best accounting method since 1941.

Determining the cost or valuation of inventory held in a company is an important management task. Inventory often represents a large portion of total assets on the balance sheet and the method used to ...

Discover the key differences in inventory accounting between GAAP and IFRS, including valuation methods, write-down reversals ...

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 ...

Retail businesses have unique accounting challenges. Here's a guide that will get you through the basics. Many, or all, of the products featured on this page are from our advertising partners who ...

Discover how absorption costing is used in GAAP for external reporting. Learn its components and why it's essential for ...

When disaster hits, the last thing you want is to argue about what you owned and what it was worth. Yet that is exactly where ...

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 ...