Your company has three inventory costing methods from which to choose. The choice is important because it influences your cost of goods sold, net income and income tax payable. Whichever method you ...

Discover the differences between absorption and variable costing methods, how they impact financial statements, and why GAAP ...

Companies have used the retail method of inventory accounting for many years. According to the Committee on Ways and Means, the retail inventory method has been the best accounting method since 1941.

Jonathan Ponciano is a financial journalist with nearly a decade of experience covering markets, technology, and entrepreneurship. Suzanne is a content marketer, writer, and fact-checker. She holds a ...

Lex (“Walmart: living the LIFO”, November 16) overlooks the impact of “last in first out” on Walmart’s cash flow. As the company also uses LIFO for tax purposes, the resulting lower taxable income ...