If you sell merchandise or manufacture goods, you measure your gross profits by your sales revenues less the cost of goods sold, or COGS. The equation for COGS is beginning inventory plus purchases ...

As a manufacturer you must account for inventory in the form of raw materials (used to create their products), business supplies and finished products. Regardless of the type of manufacturing ...

Jeff is a writer, founder, and small business expert that focuses on educating founders on the ins and outs of running their business. From answering your legal questions to providing the right ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...