Figuring the cost of goods sold is simple if you sell dozens of interchangeable items. One non-stick frying pan is much like another, for instance, so you don't need to tie specific costs to a ...

But there is another option called the Specific Identification (SI) accounting method. Assume you bought several lots of security A over the year while the stock increased in price. You might prefer ...

Many crypto traders face massive tax bills for 2017. Which accounting method they apply could change their tax bills by tens of thousands of dollars. Specific identification vs. FIFO The IRS wants the ...

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 ...