Why IFRS Prohibits LIFO Inventory Accounting

Discover why IFRS prohibits LIFO accounting, including issues like distorted financials, outdated inventory values, and ...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

Does LIFO or FIFO Defer Tax Payments in Times of Rising Prices?

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 ...
Houston Chronicle

What Are the Implications of Using LIFO and FIFO Inventory Methods?

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, ...
Inc

How to Use Accounting as Strategy

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 ...
Harvard Business School

Merrimack Tractors and Mowers: LIFO or FIFO?

Bruns, William J., Jr., Sharon Bruns, and Susan S. Hameling. "Merrimack Tractors and Mowers: LIFO or FIFO?" Harvard Business School Brief Case 083-217, December 2008.