Discover why IFRS prohibits LIFO accounting, including issues like distorted financials, outdated inventory values, and ...

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 ...

Anna Baluch is a freelance writer from Cleveland, Ohio. She enjoys writing about a variety of health and personal finance topics. When she's away from her laptop, she can be found working out, trying ...

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

How LIFO and FIFO accounting methods impact a company's inventory outlook Fact checked by Suzanne Kvilhaug Reviewed by Natalya Yashina All companies must determine how to record the movement of their ...

How a company values its inventory affects its income statement and bottom line. "Average cost" and "last in, first out," or LIFO, are two of the most common methods for valuing inventory. Both rely ...

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 ...

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 ...

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 ...

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 ...

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 ...