Valuation of Inventories
Inventories are valued at different methods depending upon the situation and nature of manufacturing process. Some of the major methods of inventory valuation are mentioned as follows:
1. First in First Out Method (FIFO)
2. Last in First Out Method (LIFO)
3. Highest in First Out Method (HIFO)
4. Nearest in First Out Method (NIFO)
5. Average Price Method
6. Base Stock Method
7. Standard Price Method
8. Market Price Method
Inventories are valued at different methods depending upon the situation and nature of manufacturing process. Some of the major methods of inventory valuation are mentioned as follows:
[Post Image Courtesy of Surachai at FreeDigitalPhotos.net]
1. First in First Out Method (FIFO)
2. Last in First Out Method (LIFO)
3. Highest in First Out Method (HIFO)
4. Nearest in First Out Method (NIFO)
5. Average Price Method
6. Base Stock Method
7. Standard Price Method
8. Market Price Method
Valuation of Inventories
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