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.

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 ...

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 ...

LONDON--(BUSINESS WIRE)--Quantzig, a premier analytics solutions provider announces the completion of its recent article that offers comprehensive insights into five retail inventory management ...

Taxpayers that fail the gross receipts test are not eligible for the new rules governing inventory accounting. The $25 million threshold will be indexed annually for inflation; the 2025 amount is $31 ...

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

Many retailers have used the LIFO (last in, first out) accounting method to manage their inventory reporting. The methods assumes that the last unit to arrive in inventory (the most recent) is sold ...

For many companies, inventory represents a large, if not the largest, portion of their assets. As a result, inventory is a critical component of the balance sheet. Inventory can be valued using a few ...

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 ...

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 ...