Discover essential methods for calculating business costs and their tax implications. Learn how accountants and producers ...

How a company values its inventory affects its income statement and bottom line. "Average cost" and "last in, first out," or LIFO, are two of the most common methods for valuing inventory. Both rely ...

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 ...