Market Realist

Cryptocurrency Taxes: Using FIFO Versus LIFO to Get Your Cost Basis

The IRS treats cryptocurrency like any other property asset. That means you have to pay capital gains taxes on your crypto earnings. If you earned (or lost) money from crypto in 2021, you’ll need to ...
Houston Chronicle

Rules for Changing From FIFO to LIFO

The FIFO and LIFO valuation methods are examples of accounting principles that measure the value of inventory. FIFO and LIFO value inventory very differently, so the same inventory can have different ...
Houston Chronicle

What Are the Implications of Using LIFO and FIFO Inventory Methods?

Last-in, first-out (LIFO) and first-in, first-out (FIFO) are two common inventory valuation methods used by companies in accounting. Inventory valuation is the process of assigning value to materials, ...

Process Costing: For Those Who Get Discouraged by Calculating Work-in-Process at Month-End

Many people find themselves stuck the moment they start learning about process costing in industrial bookkeeping.Average ...
Accounting Today

Facing the taxing burden of choosing LIFO versus FIFO

The selection by an entity of its company structure, its fiscal year and its method of accounting are the three main mechanisms that a company can employ in performing substantial tax planning, ...
Auto Remarketing

Fleetio unveils LIFO / FIFO parts inventory valuation methods

Accounting and parts tracking can be some of the most challenging chores for fleet managers. To help, Fleetio added new inventory valuation methods to its list of offerings on Tuesday — LIFO / FIFO ...
Diginomica

Intuit's Fifo acquisition spells more shifts for accounting

Intuit's acquisition of Fifo the other week was a smart move as a first step to getting into true cloud accounting for the SME. But now what? How does Intuit leverage that investment to transform to a ...