When disaster hits, the last thing you want is to argue about what you owned and what it was worth. Yet that is exactly where ...

Businesses use a variety of inventories as they service their customers. These include raw materials, work in progress and finished goods inventory for manufacturers or merchandise inventory for ...

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 ...

Discover the key differences in inventory accounting between GAAP and IFRS, including valuation methods, write-down reversals ...