Tag Archives for " calculations "

First-In, First-Out Inventory (FIFO Inventory)

Calculating Cost Using First-In, First-Out (FIFO Method) The First-In, First-Out method, also called the FIFO method, is the most straight-forward of all the methods. When determining the cost of a sale,

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Last-In, First-Out (LIFO) Inventory Calculations

Last-in, first-out (LIFO) is an inventory method popular with companies that experience frequent increases in the cost of their product. LIFO is used primarily by oil companies and supermarkets, because

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Depreciation Methods

Choosing a Method of Depreciation There are various ways to depreciate an asset and each company must determine which method to use. There are a number of items to consider when making this determination,

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