What Does FIFO Stand For? FIFO stands for ‘First In, First Out’. It is an accounting method used to track the cost of goods sold (COGS). Under FIFO, the cost of inventory purchased first is recognised ...

Transfer pricing is an accounting practice used to set prices for transactions ... On the other hand, Division B's costs of goods sold (COGS) are lower, increasing the division's profits. In short, ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. If you were designing the accounting profession from scratch today, it wouldn’t look ...