Inventory is recorded on your company's balance sheet as a short-term asset. The fixed period inventory system is a method you can use to record and track your company's inventory and adjust the ...

Discover how the FIFO method simplifies COGS calculations, using examples and comparisons to enhance your financial ...

Jeff is a writer, founder, and small business expert that focuses on educating founders on the ins and outs of running their business. From answering your legal questions to providing the right ...

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 ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Managers have many choices when it comes to accounting for inventory. Regardless of whether your small business uses a periodic or perpetual system, you must establish a method to determine the cost ...

Home Depot, Inc. announced a key change in accounting principals in its third quarter filing with the SEC. After adopting a new enterprise resource planning system, otherwise known in the ...

What is the Periodic Inventory Method? An inventory valuation system where updating accounting records or Cost of Goods Sold (COGS) is done in designated intervals rather than after each sale. The ...