The acronyms FIFO and LIFO identify methods for figuring the cost of goods sold when the price of your inventory has changed over time. With LIFO, you determine the price by assuming the most recent ...

FIFO (first in, first out) and LIFO (last in, first out) are inventory management and accounting techniques designed to add consistency to the sales and accounting functions of business, respectively.

When it comes time for businesses to account for their inventory, businesses may use the following three primary accounting methodologies: FIFO stands for "first in, first out," where older inventory ...

James Chen, CMT is an expert trader, investment adviser, and global market strategist. Khadija Khartit is a strategy, investment, and funding expert, and an educator of fintech and strategic finance ...