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FIFO
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0:47
YouTube
Boris Musheyev, CPA
Inventory Accounting Methods for Growing Businesses
Your S Corp inventory method is a TAX PLANNING decision — not just a bookkeeping detail. The method you choose directly controls your Cost of Goods Sold. Higher COGS = lower K-1 income = less you owe the IRS. 💰 Here's what you need to know about your 4 options: → FIFO — Oldest costs matched first. Simpler records, but higher taxes ...
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