Inventory costing, also called inventory cost accounting, is when companies assign costs to products they have in inventory. These costs also include incidental fees such as storage, administration and market fluctuation.
LIFO
18 Basic Types of Inventory Management Used in Business
Various types of inventory management are used in business to ensure goods are on hand to meet customer demand. Inventory management is the function of understanding the stock mix of a company and the different demands on that stock.