Small business accountants can use one of four distinct inventory costing methods to account for the cost of goods sold. Different inventory costing methods are best suited to different situations and ...

The accounting for the costs of inventory depends on the cost flow method you chose. The four ones in common use are last in, first out (LIFO), first in, first out (FIFO), specific identification and ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Chip Stapleton is a Series 7 and Series ...

Jeff is a writer, founder, and small business expert that focuses on educating founders on the ins and outs of running their business. From answering your legal questions to providing the right ...