Specific Identification Inventory Method: Track Each Item's Value

Learn how the specific identification method lets you track individual inventory costs and improve sales insights. Ideal for ...
Outlookindia

What’s The Difference Between FIFO, LIFO, And Specific Identification In Crypto Tracking?

Every crypto investor eventually faces an important question: When I sell my crypto, how do I determine which coins I have actually sold? Because each of these digital assets is purchased at different ...
TechRepublic

Inventory Accounting: Methods & How It Works

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...
CoinTelegraph

Crypto tax strategies: Understanding HIFO, FIFO and Spec ID methods

FIFO, HIFO and Spec ID (among others) are key methods to calculate crypto tax liability. The choice of method affects your taxable gains and overall liability. Record-keeping is crucial for compliance ...
JournalofAccountancy

Alternative methods allowed for identification of digital assets

The IRS provided temporary relief that allows eligible taxpayers to use alternative methods to make adequate identification of digital asset units that are sold, disposed of, or transferred during the ...