Businesses that sell goods need to implement effective inventory control to keep track of assets. Businesses use two primary methods to calculate the ending inventory value: the gross profit or the ...

One sure-fire way to determine exactly what your business has in its inventory is to go in and count every single item. However, taking a physical inventory isn't always practical or even possible, so ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...

Julie Young is an experienced financial writer and editor. She specializes in financial analysis in capital planning and investment management. Eric's career includes extensive work in both public and ...

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 ...

Andriy Blokhin has 5+ years of professional experience in public accounting, personal investing, and as a senior auditor with Ernst & Young. Thomas J. Brock is a CFA and CPA with more than 20 years of ...

All departments are required to perform a complete inventory of their capital equipment once per year. This process is an important control activity designed to safeguard the assets of the University.