Why IFRS Prohibits LIFO Inventory Accounting

Discover why IFRS prohibits LIFO accounting, including issues like distorted financials, outdated inventory values, and ...

GAAP vs. IFRS: Key Differences in Inventory Accounting

Discover the key differences in inventory accounting between GAAP and IFRS, including valuation methods, write-down reversals ...
JournalofAccountancy

Auto dealer stumbles on LIFO termination reversal

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 ...
Forbes

Costco’s Recent Earnings Shows LIFO Accounting Helps Retailers As Inflation Abates

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 ...
IndustryWeek

Improve Your Cash Flows With LIFO Inventory Pricing

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 ...
Auto Remarketing

Fleetio unveils LIFO / FIFO parts inventory valuation methods

Accounting and parts tracking can be some of the most challenging chores for fleet managers. To help, Fleetio added new inventory valuation methods to its list of offerings on Tuesday — LIFO / FIFO ...