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 ...

Learn how GAAP applies to a company's inventory reserves, using cost or market value methods, and its impact on accounting standards and financial planning.

To determine the value of ending inventory and, ultimately, margins, many retailers have stuck with an accounting practice known as the retail inventory method — in some cases for more than 100 years ...

Several major retailers in the U.S. use a century-old accounting practice known as “the retail inventory method,” which relies on retail prices to estimate inventory, even though it fails to take full ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...

The proper management of inventory is critical for any size business. The way a company values its inventory can be the difference between a profit and loss. In fact, inventory valuation affects a ...

Standard costing offers considerable appeal for manufacturers. With standard costing, specific values are assigned to each finished product for each component of material, labor, direct overhead and ...

It is not always practical for a company to keep track of actual costs of each item in inventory. Goods may be sold in random batches, and it is easy to lose track of inventory costs in relation to ...