October 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 […]
View full articleLIFOPro Software Internal Index Module Released
Automate All Aspects of LIFO Calculations in a Few Clicks of a Button The LIFOPro team is proud to announce that the latest release of the LIFOPro software now includes a robust Internal Index Module that completely automates all aspects of dollar-value internal index LIFO calculations. With this new release, users can complete both the […]
View full articleAugust 2020 CPI Release Highlights
The Bureau of Labor Statistics (BLS) released August 2020 Consumer Price Indexes (CPI) today. The All commodities index saw an increase of 0.3% in the last month and increased by 1.3% in the last 12 months. Food rose by 0.1% from July – August ’20 and has risen 4.1% between August 2019 – August 2020. […]
View full articleAugust 2020 PPI Release Highlights
The BLS released August 2020 PPI today. The All commodities index increased 0.6% over the last month & decreased 2.6% from August ’19 – ’20. Processed foods decreased 0.3% from July – August ’20 and increased 0.3% between August 2019 – August 2020. Lumber and wood products saw a rise of 5.1% in the last […]
View full articleJuly 2020 CPI Release Highlights
The Bureau of Labor Statistics (BLS) released July 2020 Consumer Price Indexes (CPI) today. The All Commodities index saw a 0.5% increase over the last month & has increased 1.0% over the last 12 months on a seasonally unadjusted basis. Housekeeping supplies increased 1.8% from June – July 2020 & rose 5.2% between July ’19 […]
View full articleJuly 2020 PPI Release Highlights
The Bureau of Labor Statistics (BLS) released July 2020 Consumer Price Indexes (CPI) today. The All Commodities index saw a 0.5% increase over the last month & has increased 1.0% over the last 12 months on a seasonally unadjusted basis. Housekeeping supplies increased 1.8% from June – July 2020 & rose 5.2% between July ’19 […]
View full articleWhy RV Dealerships are Great LIFO Candidates
How LIFO Works The LIFO inventory method matches current period revenues with the most recent period’s costs to provide a better measure of current earnings when there is inflation. The LIFO method transfers the inflationary portion of the ending inventory balance from the balance sheet to the income statement via cost of goods sold. When […]
View full articleLIFOPro Software Promotional Offer
LIFOPro highly values the relationships we have with all of our software users. When we begun as a software-only company, we knew there was a great desire for automating calculations & greatly simplifying LIFO procedures. Since then, we’ve taken great pride in having of the most reputable & successful companies as software users. In our […]
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