Greg DePersio has 13+ years of professional experience in sales and SEO and 3+ years as a writer and editor. Michael Logan is an experienced writer, producer, and editorial leader. As a journalist, he ...

FIFO (first in, first out) is the most common method of accounting for inventory. It assumes that the first items in were the first items sold. When inventory is used to create products, there is ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Charlene Rhinehart is a CPA , CFE, chair of ...

What Does FIFO Stand For? FIFO stands for ‘First In, First Out’. It is an accounting method used to track the cost of goods sold (COGS). Under FIFO, the cost of inventory purchased first is recognised ...

Two common ways for companies to account for inventory are first-in/first-out, or FIFO, and last-in/last-out, or LIFO. In FIFO, the first units that arrive in the business are the first sold. In LIFO, ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...

Many crypto traders face massive tax bills for 2017. Which accounting method they apply could change their tax bills by tens of thousands of dollars. Specific identification vs. FIFO The IRS wants the ...