Small business accountants can use one of four distinct inventory costing methods to account for the cost of goods sold. Different inventory costing methods are best suited to different situations and ...

Your company has three inventory costing methods from which to choose. The choice is important because it influences your cost of goods sold, net income and income tax payable. Whichever method you ...

Understanding the cost of your inventory isn’t just about keeping numbers straight; it’s about gaining insights that drive profitability, improve operational efficiency and enhance decision-making.

Lex (“Walmart: living the LIFO”, November 16) overlooks the impact of “last in first out” on Walmart’s cash flow. As the company also uses LIFO for tax purposes, the resulting lower taxable income ...