LIFO-PRO’s Top 50 LIFO Candidates of 2019
LIFO-PRO releases this list of the top 50 LIFO candidates annually in October following the Bureau of Labor Statistics (BLS) releasing September Producer Price Indexes (PPI). This allows for the best LIFO candidates to be identified in advance keeping in mind that considering a LIFO election typically requires prior planning and buy in from the […]
View full articleSeptember 2019 PPI Release Highlights
The Bureau of Labor Statistics (BLS) released September 2019 Producer Price Indexes (PPI) today. The Bureau of Labor Statistics (BLS) released September 2019 Producer Price Indexes (PPI) today. The All commodities index declined by 0.6% over the last month & has decreased by 2.7% over the last year on a seasonally unadjusted basis. Meats […]
View full articleAugust 2019 CPI Release Highlights
The Bureau of Labor Statistics (BLS) released August 2019 Consumer Price Indexes (CPI) today. The all items category was unchanged over the last month & rose by 1.7% over the last year while All items less food and energy increased 0.2% from July – August ’19 and rose by 2.4% from August ’18 – ’19. […]
View full articleAugust 19 PPI Release Highlights
The Bureau of Labor Statistics (BLS) released August 2019 Producer Price Indexes (PPI) today. The All commodities index declined by 0.8% over the last month & has decreased by 2.0% over the last year on a seasonally unadjusted basis. Meats increased by 2.6% from July to August 2019 and rose by 6.1% from August ’18 […]
View full articleJuly ’19 CPI Release Highlights
The Bureau of Labor Statistics (BLS) released July 2019 Consumer Price Indexes (CPI) today. The all items category rose 0.2% over the last month & rose by 1.8% over the last year while All items less food and energy increased 0.1% from June – July ’19 and rose by 2.2% from July ’18 – ’19. […]
View full articleWhy the Double-extension LIFO Index Calculation Method is Unreliable
The double-extension method does not reliably measure the amount of price inflation during a year and should not be considered a permissible LIFO method. The double-extension method has been considered by the IRS to be the preferred method to make dollar-value method LIFO index calculations for the almost 60 years that the dollar-value LIFO method […]
View full articleJuly ’19 PPI Release Highlights
The Bureau of Labor Statistics (BLS) released July 2019 Producer Price Indexes (PPI) today. The All commodities index rose by 0.3% over the last month & decreased by 1.6% over the last year on a seasonally unadjusted basis. Dairy products increased by 1.2% from June to July ’19 and rose by 5.6% from July ’18 […]
View full articleJune ’19 CPI Release Highlights
The Bureau of Labor Statistics (BLS) released June 2019 Consumer Price Indexes (CPI) today. The all items category was unchanged over the last month & rose by 1.6% over the last year while All items less food and energy increased 0.2% from May – June 19 and rose by 2.1% from May ’18 – ’19. […]
View full articleJune 2019 PPI Release Highlights
The Bureau of Labor Statistics (BLS) released June 2019 Producer Price Indexes (PPI) today. The All commodities index declined by 0.6% over the last month & decreased by 1.9% over the last year on a seasonally unadjusted basis. Leading the decreases was refined petroleum with a 7.3% decline from May – June 2019 and a […]
View full articleMay 2019 CPI Release Highlights
The Bureau of Labor Statistics (BLS) released May 2019 Consumer Price Indexes (CPI) today. The all items category increased 0.2% over the last month & rose by 1.8% over the last year while All items less food and energy increased 0.1% between April – May ’19 and rose by 2.0% between May ’18 – ’19. […]
View full articleMay ’19 PPI Release Highlights
The Bureau of Labor Statistics (BLS) released May 19 Producer Price Indexes (PPI) today. The All commodities index decreased 0.3% over the last month & declined by 0.8% over the last year on a seasonally unadjusted basis. Industrial commodities less fuels was unchanged between April – May ’19 & rose by 0.7% between May ’18 […]
View full articleClarifying How LIFO Works
The most common resistance we get when speaking with companies regarding LIFO is related to its complexity. “It just doesn’t make sense” is a common theme. “I don’t know why anyone would go out of their way to make inventory accounting more complicated” is another often-used rebuttal. But the bottom line is that LIFO provides […]
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