Do you know about the different inventory valuation methods and which one(s) work best for your business? If not, this video will definitely help. It’s important to note the differences in Last In First Out (LIFO), First In First Out (FIFO), and Average Costing because each one has a big impact on your balance sheets, income statements, and even tax liabilities.
I’ll let Andrew explain the rest. Enjoy!
Fishbowl Inventory works well with each of these inventory valuation methods, and it integrates seamlessly with QuickBooks. Sign up for an inventory software demo to see all the ways that Fishbowl Inventory can help your business.