Tag Archives for " Inventory "

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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Weighted Average Inventory Calculations

What Is a Weighted Average? Most people know how to do a simple average, but have trouble with a weighted average. Weighted averages are all around us, although you may not have realized it. In most classes,

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Recording Warranty Expenses and Liabilities

What is a warranty? Most of the products we purchase come with some type of warranty. A warranty is guarantee that the manufacturer of the product will repair or replace the product for a certain period

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