Cost of goods sold (COGS) is the determination of how much it costs retailers, wholesalers and manufacturers to produce the goods they sell. For makers and resellers of products, COGS, sometimes also ...

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Two common ways for companies to account for inventory are first-in/first-out, or FIFO, and last-in/last-out, or LIFO. In FIFO, the first units that arrive in the business are the first sold. In LIFO, ...

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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 ...