FIFO Vs LIFO: The Basics on These Two Inventory Valuation Methods

Keeping track and valuating your inventory is a must for any company. In the US, we value inventory both at the beginning and end of the year. To do this, company’s mainly use either the FIFO method (first in, first out) or the LIFO method (last in, first out). Each method has different implications for your company, so today we will compare the two to...

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