Inventory valuation and depreciation are crucial accounting practices that significantly impact a company's financial statements and tax obligations. This comprehensive guide covers the various methods of inventory valuation, including FIFO, LIFO, and Weighted Average, as well as the different approaches to depreciation such as Straight-Line, Declining Balance, and Units of Production. Learn how to apply these methods to accurately reflect the value of your inventory and assets over time, and understand their implications on your business's profitability and compliance.
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