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  2. Cost of goods sold - Wikipedia

    en.wikipedia.org/wiki/Cost_of_goods_sold

    Cost of goods sold (COGS) is the carrying value of goods sold during a particular period. Costs are associated with particular goods using one of the several formulas, including specific identification, first-in first-out (FIFO), or average cost. Costs include all costs of purchase, costs of conversion and other costs that are incurred in ...

  3. FIFO and LIFO accounting - Wikipedia

    en.wikipedia.org/wiki/FIFO_and_LIFO_accounting

    In the FIFO example above, the company (Foo Co.), using LIFO accounting, would expense the cost associated with the first 75 units at $59, 125 more units at $55, and the remaining 10 units at $50. Under LIFO, the total cost of sales for November would be $11,800.

  4. Average cost method - Wikipedia

    en.wikipedia.org/wiki/Average_cost_method

    A physical count is then performed on the ending inventory to determine the number of goods left. Finally, this quantity is multiplied by weighted average cost per unit to give an estimate of ending inventory cost. The cost of goods sold valuation is the amount of goods sold times the weighted average cost per unit.

  5. Inventory valuation - Wikipedia

    en.wikipedia.org/wiki/Inventory_valuation

    The perpetual system records revenue each time a sale is made. Determining the cost of goods sold requires taking inventory. The most commonly used inventory valuation methods under a perpetual system are: first-in first-out (FIFO) last-in first-out (LIFO) (highest in, first out) (HIFO) average cost or weighted average cost

  6. Lower of cost or market - Wikipedia

    en.wikipedia.org/wiki/Lower_of_Cost_or_Market

    However, the update does not apply to all companies. Companies that use the FIFO (first-in, first-out) and average-cost methods of inventory valuation are required to implement the changes, whereas companies that use the LIFO (last-in, first-out) and retail inventory methods are not affected by the update. [3]

  7. IAS 2 - Wikipedia

    en.wikipedia.org/wiki/IAS_2

    IAS 2 also requires the use of the First-in, First-out (FIFO) principle whereby those items which have been in stock the longest are considered to be the items that are being used first, ensuring that those items which are held in inventory at the reporting date are valued at the most recent price. As an alternative, costs of inventories may be ...

  8. New HIV prevention drug could reach poorest countries ... - AOL

    www.aol.com/hiv-prevention-drug-could-reach...

    A new long-acting preventive HIV drug could reach the world’s poorest countries by the end of 2025 or early 2026, a global health official told Reuters on Tuesday. The ambition is to start ...

  9. Days in inventory - Wikipedia

    en.wikipedia.org/wiki/Days_in_inventory

    where DII is days in inventory and COGS is cost of goods sold. The average inventory is the average of inventory levels at the beginning and end of an accounting period, and COGS/day is calculated by dividing the total cost of goods sold per year by the number of days in the accounting period, generally 365 days. [3]