Inventory Valuation

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August 18, 2024 6 min read Dictionary
FIFO: First In, First Out
Accounting Inventory Management FIFO Accounting Methods Inventory Valuation Cost of Goods Sold Laughter in Accounting
The accounting method where the oldest inventory is sold first, leaving the freshest items behind, just like how we finish the last slice of pizza!
Read more about FIFO: First In, First Out.
August 18, 2024 5 min read Dictionary
Next In, First Out (NIFO)
Accounting Inventory Management NIFO Inventory Valuation Accounting Principles Cost Principles Replacement Cost
Next In, First Out (NIFO) is a quirky method of inventory valuation where the latest replacement costs shuffle into the spotlight instead of the original costs standing center stage.
Read more about Next In, First Out (NIFO).

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