Under the generally accepted accounting principles in use in the United States, businesses must write off the value of obsolete inventory. While the total amount of such write-offs must be included in ...

Businesses produce revenues through selling their goods and services to interested customers. To acquire the products intended for sale, businesses must either manufacture or purchase them from their ...

Wondering about FIFO vs LIFO? Learn about the two inventory valuation methods and which one is best for you. Many, or all, of the products featured on this page are from our advertising partners who ...

Learn how the specific identification method lets you track individual inventory costs and improve sales insights. Ideal for ...

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 ...

Limited guidance from the IRS and accounting standard-setting bodies has led to a divergence in interpretation and practice for inventory valuation within the scope of business combinations.

Zaw Thiha Tun is currently an investment advisor for PI Financial Corp. He is also a financial writer on a wide variety of topics. Amy is an ACA and the CEO and founder of OnPoint Learning, a ...