Determining the cost or valuation of inventory held in a company is an important management task. Inventory often represents a large portion of total assets on the balance sheet and the method used to ...

Discover the importance of LIFO Reserve in accounting, including its calculation, comparison with FIFO, and impact on taxes.

Inventory management is an important aspect of every retail business. To maximize profits, companies need the right amount of inventory items at all times. Inventory count determines both inventory ...

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 ...

Discover how HIFO inventory accounting contrasts with LIFO and FIFO methods, and why it impacts COGS and taxable income, ...

Few differences between IFRS and U.S. GAAP loom larger than accounting for inventories, particularly the disallowance of the last-in, first-out (LIFO) method in IFRS. The proposed shift of U.S. public ...

The Internal Revenue Service has reversed itself on the rolling-average method of valuing inventory and will now consider it valid for tax purposes. The IRS has traditionally viewed rolling-average ...

Limited guidance from the IRS and accounting standard-setting bodies has led to a divergence in interpretation and practice for inventory valuation within the scope of business combinations.

Please note: This item is from our archives and was published in 2001. It is provided for historical reference. The content may be out of date and links may no longer function. THE IRS HAS PROPOSED ...

Retailers are trying to manage cost increases from President Donald Trump's tariffs. A practice known as retail inventory method accounting could affect how higher costs show up in companies' profit ...