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Weighted Average vs. FIFO vs. LIFO: What’s the Difference?

When it comes time for businesses to account for their inventory, businesses may use the following three primary accounting methodologies: FIFO stands for "first in, first out," where older inventory ...
Houston Chronicle

Examples of FIFO and LIFO in Accounting

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, ...
Investopedia

Understanding Beginning Inventory: Definition, Methods, and Key Metrics

Julie Young is an experienced financial writer and editor. She specializes in financial analysis in capital planning and investment management. Eric's career includes extensive work in both public and ...
Houston Chronicle

Retail Vs. Cost Inventory Accounting

Estimating and costing inventory is an important function in manufacturing and retailing. Most manufacturing or assembly organizations use the original cost of materials to report inventory. Since ...
Investopedia

FIFO vs. LIFO: Understanding U.S. GAAP Inventory Accounting

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Charlene Rhinehart is a CPA , CFE, chair of ...