Managers have many choices when it comes to accounting for inventory. Regardless of whether your small business uses a periodic or perpetual system, you must establish a method to determine the cost ...

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 ...

A periodic inventory system uses a manual inventory count at the end of the year. This amount, labeled ending inventory, becomes the beginning inventory for the next year. Purchases of new inventory ...