Houston Chronicle

Example of FIFO Goods

The first-in, first-out inventory (FIFO) system works by assuming that items are pulled out of inventory in the same order that they get put in. Moving older stock first can increase your company's ...
Forbes

What Is The FIFO Method? FIFO Inventory Guide

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 ...
Investopedia

Calculate Cost of Goods Sold: FIFO Method Explained

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Charlene Rhinehart is a CPA , CFE, chair of ...
Houston Chronicle

Examples of FIFO and LIFO in Accounting

Two common ways for companies to account for inventory are first-in/first-out, or FIFO, and last-in/last-out, or LIFO. In FIFO, the first units that arrive in the business are the first sold. In LIFO, ...
Hosted on MSN

Weighted Average vs. FIFO vs. LIFO: What’s the Difference?

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 ...