Houston Chronicle

What Are the Implications of Using LIFO and FIFO Inventory Methods?

Last-in, first-out (LIFO) and first-in, first-out (FIFO) are two common inventory valuation methods used by companies in accounting. Inventory valuation is the process of assigning value to materials, ...
Investopedia

HIFO Accounting Explained: Differences With LIFO and FIFO

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...
Accounting Today

Facing the taxing burden of choosing LIFO versus FIFO

The selection by an entity of its company structure, its fiscal year and its method of accounting are the three main mechanisms that a company can employ in performing substantial tax planning, ...
Houston Chronicle

Example of FIFO Goods

The first-in, first-out inventory (FIFO) system works by assuming that items are pulled out of inventory in the same order that they get put in. Moving older stock first can increase your company's ...