How LIFO and FIFO accounting methods impact a company's inventory outlook Reviewed by Natalya Yashina All companies must ...

account for their resale inventory under cost of goods sold, also known as cost of sales. This refers to the total price paid for the products sold during the income statement's accounting period.

Learn how to read Netflix's income statement and use it to evaluate the company's current financial condition.

Reviewed by Charlene Rhinehart Fact checked by David Rubin The balance sheet, income statement, and cash flow statement are ...

From there, most of the items listed on the income statement relate to expenses, such as the cost of goods sold—namely expenses for materials—tied to the production and sale of goods and services.