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 ...

Small business accountants can use one of four distinct inventory costing methods to account for the cost of goods sold. Different inventory costing methods are best suited to different situations and ...

FIFO stands for "first in, first out," and is used both commercially and domestically to manage inventory efficiently by ensuring items are used in the order they enter. The FIFO method helps save ...