Discover why IFRS prohibits LIFO accounting, including issues like distorted financials, outdated inventory values, and ...

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 ...

Last-in, first-out (LIFO) and first-in, first-out (FIFO) are two common inventory valuation methods used by companies in accounting. Inventory valuation is the process of assigning value to materials, ...

A lot depends on the nature of your business. In some cases accounting methods can actually be part of your business strategy; inventory accounting is one of those methods. Specific identification ...

Although rising prices increase the cost of your inventory purchases, rising prices affect LIFO (Last-in, First-out) and FIFO (First-in, First-out) inventory values differently. Each 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, ...

During inflationary times, companies can reduce their taxable income by using the last-in, first-out (LIFO) cost flow assumption for inventories. However, the tax savings from using LIFO come at a ...

WIRE uses LIFO accounting for inventory which overstates earnings during periods of declining copper prices, and understates when copper prices climb. Q4 average copper pricing increased sequentially ...