Figuring the cost of goods sold is simple if you sell dozens of interchangeable items. One non-stick frying pan is much like another, for instance, so you don't need to tie specific costs to a ...

Since the price of products continually changes due to inflation and consumer demand, valuing current inventory can be challenging. FIFO, or first in, first out, is an accounting method used to ...

Inventory turnover is an indicator of a company’s revenue efficiency. It is the ratio defining how many times the inventory was sold and replaced in a given period of time. The inventory turnover ...