How LIFO and FIFO accounting methods impact a company's inventory outlook Carla Tardi is a technical editor and digital content producer with 25+ years of experience at top-tier investment banks and ...

FIFO (First In, First Out), LIFO (Last In, Last Out) and JIT (Just In Time) are three basic inventory methods that companies can use. It is helpful to first understand the advantages of the FIFO ...

The inventory costing method your company uses directly affects your "cost of goods sold," which is an expense. The higher the expense you report, the lower your net income, and thus the lower your ...