If your small business involves selling or distributing any type of product, there's virtually no way to avoid the need to carry an inventory to ensure timely shipment and prevent out-of-stock ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...

Discover NIFO, a unique inventory valuation method based on replacement cost instead of original cost, its working mechanism, ...

Discover why IFRS prohibits LIFO accounting, including issues like distorted financials, outdated inventory values, and ...

The costs of excess inventory can be huge. In this article, I want to just show the savings that can occur from a focus just on the inbound side, and give supply chain practitioners a little simple ...

Editor’s note: The coronavirus pandemic has made inventory testing a huge challenge for auditors, particularly for client entities with a March 31 fiscal year end. Audit firms are requiring staff to ...

An inventory account must be closed at the end of a company's accounting period. Closing the inventory account allows the company to carry its ending inventory balance forward to the next accounting ...

Michael Amori is CEO and cofounder of Virtualitics. A data scientist and entrepreneur with a background in finance and physics. At the core of modern logistics and inventory management lies a web of ...

Over the past 12 months, many businesses stocked up on inventory to keep customer service levels high. In a volatile global supply chain landscape—unpredictable factory shutdowns, rising prices, ...