Effective product categorization is essential for better inventory control, improved customer discovery, and streamlined operations. This guide explores why categorization matters, the best methods to organize your products, and practical tips to avoid common pitfalls. Learn how to create a logical and user-friendly system that enhances both your business efficiency and customer satisfaction. Whether you're running an e-commerce store or managing a retail inventory, mastering product categorization can transform your workflow and drive success.

FIFO (First In, First Out) and LIFO (Last In, First Out) are two fundamental inventory valuation methods that impact financial reporting, taxes, and profitability. This guide explains how FIFO prioritizes older stock while LIFO uses newer inventory first and why it matters. Discover the key differences between these methods, how they affect cost of goods sold (COGS), and which approach works best for your business. Whether you're managing perishable goods, navigating inflation, or optimizing accounting strategies, mastering FIFO and LIFO ensures better inventory control and financial decision-making.