Discover the importance of LIFO Reserve in accounting, including its calculation, comparison with FIFO, and impact on taxes.

Many retailers have used the LIFO (last in, first out) accounting method to manage their inventory reporting. The methods assumes that the last unit to arrive in inventory (the most recent) is sold ...

The impact of reduced new-vehicle inventories and the resulting LIFO recapture continues to be a major concern for dealers. The National Automobile Dealers Association has been very active for more ...

Discover how HIFO inventory accounting contrasts with LIFO and FIFO methods, and why it impacts COGS and taxable income, ...

When you decide to sell a portion of your holdings in a stock, you have to decide which shares you actually want to sell. Two of the most common methods used in this decision are known as FIFO and ...

Manufacturers, processors, wholesalers, jobbers, distributors and other companies that have a substantial portion of their assets in the form of inventory have an opportunity to improve their cash ...

The LIFO accounting method for valuing a business's inventory -- standing for last in, first out -- has come under fire from Congress and the White House. President Barack Obama in early 2012 ...

You may have heard that the first in, first out method is the best inbox management strategy. Ignore that—last in, first out ...

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 ...

The Tax Court held that a business taxpayer’s automatic consent request to change from the last-in, first-out (LIFO) inventory method failed due to defects in its Form 3115, Application for Change in ...

The Sixth Circuit Court of Appeals recently upheld a Tax Court finding that the consistent omission of a step when computing inventory cost under the dollar-value ...

When you decide to sell a portion of your holdings in a stock, you have to decide which shares you actually want to sell. Two of the most common methods used in this decision are known as FIFO and ...