Fifo Agreement

First In, First Out, commonly known as FIFO, is an asset management and valuation method that involves first selling, using or selling the assets produced or acquired. For tax purposes, fifo considers that assets with the oldest costs are included in the profit and loss account costs of goods sold (COGS). The remaining inventories are compared to the assets last purchased or produced. In the past, studies have found it difficult to quantify the long-term impact of FIFO`s work on staff and the community as a whole. . . .

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