A perpetual inventory system updates the inventory balance continually, which usually requires real-time tracking of inventory items from purchase to sale. Small businesses may opt for the more ...

Anna Baluch is a freelance writer from Cleveland, Ohio. She enjoys writing about a variety of health and personal finance topics. When she's away from her laptop, she can be found working out, trying ...

Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed various community and nonprofit organizations. She has conducted in-depth research on social and economic issues ...

Last-in, first-out is one of several methods a business may use to account for the cost of its inventory for financial reporting purposes. Inventory is the goods and products a business sells to ...

Discover why IFRS prohibits LIFO accounting, including issues like distorted financials, outdated inventory values, and ...

The impact of reduced new-vehicle inventories and the resulting LIFO recapture continues to be a major concern for dealers. The National Automobile Dealers Association has been very active for more ...