Jeff is a writer, founder, and small business expert that focuses on educating founders on the ins and outs of running their business. From answering your legal questions to providing the right ...

For example, the seafood company—from the earlier example—would use their oldest inventory first (or first in) when selling and shipping their products. Because the seafood company would never leave ...

Determining the value of inventory is an important part of accounting. In order to calculate the profit on a sale, a cost must be assigned to the item sold. A business that is selling large amounts of ...