HIFO Accounting Explained: Differences With LIFO and FIFO

Discover how HIFO inventory accounting contrasts with LIFO and FIFO methods, and why it impacts COGS and taxable income, ...
Houston Chronicle

How Would FIFO and LIFO Affect the Income Taxes Paid?

The inventory costing method your company uses directly affects your "cost of goods sold," which is an expense. The higher the expense you report, the lower your net income, and thus the lower your ...
Houston Chronicle

Example of FIFO Goods

The first-in, first-out inventory (FIFO) system works by assuming that items are pulled out of inventory in the same order that they get put in. Moving older stock first can increase your company's ...
Investopedia

What Are the Disadvantages of the FIFO Accounting Method?

Greg DePersio has 13+ years of professional experience in sales and SEO and 3+ years as a writer and editor. Michael Logan is an experienced writer, producer, and editorial leader. As a journalist, he ...