This method, known as price-level accounting, measures the average price of a good across the economy. Price-level accounting creates more accurate results than ones based on pre-inflation prices do. Inflation accounting ensures that a company maintains its physical capital by…

Yes, FIFO is still a common inventory accounting method for many businesses. It’s required for certain jurisdictions, while others have the option to use FIFO or LIFO. Good inventory management software makes it easy to log new orders, record prices,…