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According to many well-designed studies that have looked at the psychological consequences of growing up with lesbian or gay parents
FIFO Method
First-In, First-Out method, an inventory valuation method where the first items purchased are the first ones sold, used in calculating cost of goods sold.
Ending Inventory
The value of goods available for sale at the end of an accounting period, calculated as beginning inventory plus purchases minus cost of goods sold.
Periodic Inventory System
A method of inventory valuation in which physical inventory is counted at specific intervals and cost of goods sold is calculated periodically.
Specific Invoice Method
An accounting approach to valuing inventory that tracks the cost of each specific item in inventory and is sold.
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