Source Advisors LIFO Accounting, which stands for Last In First Out, is an accounting method that assumes the most recently acquired inventory items are sold first. This practice can be seen in a ...

The food industry is gathering data to fight efforts in Congress toward the possible repeal of the LIFO method of inventory accounting — proposals that could mean not only higher taxes on inventory ...

The selection by an entity of its company structure, its fiscal year and its method of accounting are the three main mechanisms that a company can employ in performing substantial tax planning, ...

The conversion to International Financial Reporting Standards, coupled with the movement towards fair value accounting and Congress' need for revenue, could result in the repeal of the ...

As part of their federal tax reform efforts, White House policymakers and members of the House and Senate tax-writing committees are currently considering repeal of the “last in, first out” (LIFO) ...

The acronyms FIFO and LIFO identify methods for figuring the cost of goods sold when the price of your inventory has changed over time. With LIFO, you determine the price by assuming the most recent ...

Managers have many choices when it comes to accounting for inventory. Regardless of whether your small business uses a periodic or perpetual system, you must establish a method to determine the cost ...

Please note: This item is from our archives and was published in 2012. It is provided for historical reference. The content may be out of date and links may no longer function. I enjoyed the LIFO ...

James Chen, CMT is an expert trader, investment adviser, and global market strategist. Khadija Khartit is a strategy, investment, and funding expert, and an educator of fintech and strategic finance ...