Discover why IFRS prohibits LIFO accounting, including issues like distorted financials, outdated inventory values, and ...

A common figure in financial statements is the cost-of-goods sold; the COGS ratio is removed from a company's profits when calculating gross profit, which is a measure of profitability that assesses a ...

Anna Baluch is a freelance writer from Cleveland, Ohio. She enjoys writing about a variety of health and personal finance topics. When she's away from her laptop, she can be found working out, trying ...

Figuring the cost of goods sold is simple if you sell dozens of interchangeable items. One non-stick frying pan is much like another, for instance, so you don't need to tie specific costs to a ...

Tracking inventory expenditures is more than just good business practice. Properly accounting for the value of your inventory is required for tax reporting. Figuring the value of inventory may involve ...

IMGCAP(1)]Inventory management is the practice of planning, directing and controlling inventory so that it contributes to the business' profitability. Inventory is an asset on the balance sheet that ...

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 ...

Earnings season can be both exciting and stressful for investors. A ton of new expected and unexpected data come out and everyone tries to draw new valuations and conclusions on the investments made ...

Businesses seek to generate profit. To do this, they sell goods to bring in revenue. But revenue and profit aren’t the same. To get from one to the other, you need to factor in the cost of goods sold ...