LIFO Blog

October ’19 PPI Release Highlights

The Bureau of Labor Statistics (BLS) released October 2019 Producer Price Indexes (PPI) today. The All commodities index increased by 0.2% over the last month & has decreased by 3.0% over the last year on a seasonally unadjusted basis. Farm products increased by 6.0% over the last month & rose by 4.1% over the last […]

October ’19 CPI Release Highlights

The Bureau of Labor Statistics (BLS) released October 2019 Consumer Price Indexes (CPI) today. The All commodities index increased by 0.2% over the last month & has increased 1.8% over the last year on a seasonally unadjusted basis. Candy and chewing gum increased by 3% from September to October ’19 and rose by 4.9% from […]

September ’19 CPI Release Highlights

The Bureau of Labor Statistics (BLS) released September 19 Consumer Price Indexes (CPI) today. The all items category increased 0.1% over the last month & rose 1.7% over the last year while All items less food and energy increased 0.1% between August – September ’19 and rose 2.4% between September ’18 – ’19. Tobacco and […]

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 […]

September 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 […]

August 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. […]

August 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 […]

July ’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. […]

Why 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 […]

Lee Richardson, CPA President Lee worked in the Accounting and Auditing department for Touche Ross & Co. in Omaha from 1977 to 1984. His primary clientele during that time were retailers, wholesalers, manufacturers and processors with significant inventories which provided him substantial inventory accounting experience many years before the inception of LIFO-PRO. Lee realized there […]

July ’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 […]

June ’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. […]