December 2020 PPI Release Highlights
The BLS released December 2020 PPI today. The all commodities index increased 1.2% over the last month and rose 0.8%in the last twelve months. Processed foods and feeds increased by 0.3% from November 2020 and saw an increase of 2.0% from December 2019 to December 2020. Meats increased 3.2% in the last month and increased […]
View full articleDecember 2020 CPI Release Highlights
The Bureau of Labor Statistics (BLS) released December 2020 Consumer Price Indexes (CPI) today. The all items index increased 0.1% in the last month and increased 1.4% in the last twelve months. Food saw an increase of 0.4% in the last month and increased 3.9% in the last twelve months. Cereals and cereal products rose […]
View full articleNovember 2020 PPI Release Highlights
The BLS released November PPI today. The all commodities index increased 0.3% in the last month and decreased 1.4% in the last twelve months. Farm products saw a 3.1% increase from October 2020 and increased 4.2% since November 2019. Processed foods and feeds rose 1.4% between October – November 2020 and increased 1.7% November 2019 […]
View full articleNovember 2020 CPI Release Highlights
The Bureau of Labor Statistics (BLS) released November 2020 Consumer Price Indexes (CPI) today. The all items index decreased 0.1% in the last month and increased 1.2% in the last twelve months. Other food at home decreased 0.7% since October 2020 and increased 2.9% since November 2019. Peanut butter saw a 0.1% increase from last […]
View full articleWhy 2020 is a Great Year for RV Dealers to Adopt LIFO or Expand Their LIFO Election Scope
COVID-19 has caused the following circumstances for RV dealers: Above average sales volume Appreciating used equipment prices Depleted inventory levels LCM reserve liquidations Increased taxable income from: Above average sales volume LCM reserve liquidations LIFOPro identified the following planning opportunities for RV dealers seeking to create after-tax cash savings & reduce taxable income: RV dealers […]
View full articleOctober 2020 PPI Release Highlights
The BLS released October PPI today. The all commodities index has increased 0.3% in the last month and decreased 1.4% in the last year. Processed foods & feeds rose by 1.1% from September 2020 and saw an increase of 0.7% since October 2019. Fruits & melons, fresh/dry vegs. & nuts increased by 9.2% from September […]
View full article2020 Updated PPI Table 9 Category Name File Released
LIFOPro has completed the annual updates to the excel file used by LIFOPro clients for populating BLS PPI Table 9 category names via VLOOKUP formulas in their inventory detail files. LIFOPro clients should use the email received containing the Complete Table 9 PPI Category Name file download link to obtain the updated file (feel free […]
View full articleOctober 2020 CPI Release Highlights
The Bureau of Labor Statistics (BLS) released October 2020 Consumer Price Indexes (CPI) today. The all items index maintained the last month and saw a 1.2% increase in the last twelve months. Carbonated drinks increased by 1.0% in the last month and rose by 7.9% in the last twelve months. Sugar and sugar substitutes increased […]
View full article2020 Top LIFO Candidates
LIFO Tax Incentive Opportunities Abound LIFO is the most valuable inventory-related tax incentive for companies with inflation. LIFOPro publishes our top LIFO candidates blog annually at the end of the year to help CPA firms & companies considering electing LIFO both identify if they’re a good LIFO candidate and if the current inflation environment favors […]
View full articleSeptember 2020 PPI Release Highlights
The BLS released September 2020 PPI today. The All commodities index increased 0.7% in the last month and decreased 1.5% in the last twelve months. Processed foods and feeds decreased 0.6% from August 2020 and decreased 0.3% from September 2019 – September 2020. Fruits & melons, fresh/dry vegetables & nuts rose by 7.7% in the […]
View full articleSeptember 2020 CPI Release Highlights
The Bureau of Labor Statistics (BLS) released September 2020 Consumer Price Indexes (CPI) today. The all commodities index saws an increase of 0.1% in the last month and increased by 1.4% in the last twelve months. Food at home decreased 0.4% since August 2020 and increased 4.1% from September 2019. Used cars and trucks increased […]
View full articleContrasting the Front & Back End Components of Dollar-value LIFO Calculations
All dollar-value LIFO calculations are composed of two separate components to arrive at the end result (some would consider the end result to be the current year end LIFO reserve; others may consider it to be the current year end LIFO inventory balance). We call those two components the front & back end of a […]
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