Inventory valuation: FIFO method
ID:CVFIFO
Video Overview
Inventory (tock) valuation allows a company to provide a monetary value for items that make up their inventory. Inventories are usually the largest current asset of a business, and proper measurement of them is necessary to assure accurate financial statements. If inventory is not properly measured, expenses and revenues cannot be properly matched and a company could make poor business decisions. In this tutorial we shall take a look at one such valuation method – the First-in-First-out method; often describe as ‘FIFO’ in short.
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