FIFO and LIFO accounting
id:
fifo-and-lifo-accounting-217-1857680
title:
FIFO and LIFO accounting
text:
FIFO and LIFO accounting are methods used in managing inventory and financial matters involving the amount of money a company has to have tied up within inventory of produced goods, raw materials, parts, components, or feedstocks. They are used to manage assumptions of costs related to inventory, stock repurchases, and various other accounting purposes. The following equation is useful when determining inventory costing methods: Beginning Inventory Balance + Purchased Inventory = Inventory Sold
brand slug:
wiki
category slug:
encyclopedia
description:
Methods used in managing inventory
original url:
https://en.wikipedia.org/wiki/FIFO_and_LIFO_accounting
date created:
2002-09-17T14:46:41Z
date modified:
2024-09-13T02:51:50Z
main entity:
{"identifier":"Q1265942","url":"https://www.wikidata.org/entity/Q1265942"}
image:
{"content_url":"https://upload.wikimedia.org/wikipedia/commons/e/e6/Ledger.png","width":1706,"height":896}
fields total:
13
integrity:
16