Inventory valuation
The determination of the cost assigned to raw materials inventory, work-in-progress, finished goods, and any other inventory items can be computed using several methods.
First-In, First- Out (FIFO), weighted average or specific identification method. Inventory is valued at the lower of cost or market value applied on either an item-by- item basis, a category basis or a total basis.
Our experienced staff can assist you in finding the method most suitable for your business.