Download this blog as a PDF to revisit it whenever you want. We’ll email you a copy. When Susan first opened her pet supply store, she quickly discovered her vegan pumpkin dog treats were a huge hit ...

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 ...

The inventory costing method your company uses directly affects your "cost of goods sold," which is an expense. The higher the expense you report, the lower your net income, and thus the lower your ...

When you decide to sell a portion of your holdings in a stock, you have to decide which shares you actually want to sell. Two of the most common methods used in this decision are known as FIFO and ...

Learn how the flow of costs impacts manufacturing firms, covering raw materials, work-in-process, finished goods, and cost of goods sold with practical examples and methods.