How to manage inventory: FIFO, LIFO, AVCO

Learning how to manage inventory is an important part of running a business. Managing inventory (also known as stock) properly includes choosing an inventory valuation method; this video gives an overview of the first-in-first-out (FIFO), last-in-first-out (LIFO), and average cost (AVCO) methods. You’ll also learn the difference between periodic and perpetual inventory management systems.