Companies that do not maintain a real-time inventory tracking system rely on periodic inventory audits and corresponding adjustments to the accounting general ledger in order to properly reflect the ...

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 ...

While it's best to have everything in stock that a customer may need, it can be expensive buying and keeping items around that may be needed only rarely or which can grow obsolete before sale. One ...

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.