2022

Is Last-In-First-Out Accounting Right for Your Business?

Blog

If you run a business with inventory, your management team can choose from a few different accounting options. Traditionally, the most common option is first-in-first-out, which essentially means that inventory goes out of your business in the same order that it comes in. However, many businesses can benefit from last-in-first-out (LIFO) accounting.  Here is a look at that method and an explanation of when an organisation may benefit from using this approach.

10 January 2022