For instance, say a candle company buys a batch of 1,000 candles from their supplier at $2 apiece. Several months later, the company buys another batch of 1,000 candles – but this time, the supplier charges $10 for each candle. Additionally, any inventory left over at the end of the financial year does not affect …

FIFO: The First In First Out Inventory Method Bench Accounting Read More »