LIFOPro offers turnkey outsourcing solutions for all auto dealers, including those using the alternative LIFO method (ALM) or the IPIC method (using Bureau of Labor Statistics Consumer/Producer Price Indexes or BLS CPI/PPI). Our solution includes a LIFO PDF report electronically delivered to you that provides all amounts to book your LIFO accounting entries and prepare your P12/P13 dealer financial reports.
We are committed to providing auto dealer-specific LIFO solutions that are both cost-effective and competitive with any other provider in the market, and we guarantee to deliver your LIFO reports by or before your required deadline!
Already using another auto dealer LIFO service provider? Switch to LIFOPro and save big on fees! Switching to LIFOPro is quick & easy, and all that's required is your prior year end LIFO reports and invoice documents provided to your existing service provider for your prior year LIFO calculation.
Get educated on the Inventory Price Index Computation (IPIC) method, including the origins, advantages & disadvantages, calculation procedures, options & much more!
Learn about LIFO opportunities abound for CPA firms, how to increase the scope of your LIFO offerings & learn how to easily identify good LIFO candidates!
Learn how the IPIC LIFO Method works, find valuable Bureau of Labor Statistics (BLS) links and stay up to date on all changes related to the IPIC Method!
Learn about LIFOPro’s past roles in partnering with companies & CPA firms to deliver great value by finding solutions to the most challenging LIFO issues!
The Inventory Price Index Computation (IPIC) method allows taxpayers to use published external indexes to calculate inflation for the purpose of valuing LIFO inventories.
Supermarkets face LIFO calculation issues unique to the industry. Find out why & answers to how they are dealt with Special Challenges for Supermarkets page.
Why the Double-extension LIFO Index Calculation Method is Unreliable
Facts describing why the double-extension LIFO index calculation method is unreliable and examples proving how this method creates unpredictable results.
Find recent important changes & BLS addition of Table 9 Wherever-provided Services & Construction PPI Indexes & Important Change in PPI Code Structure page.
Find information on CPI Category Changes & Bureau of Labor Statistics Consumer Price Index update information such as new medical commodity codes here!
Learn IRS Regulations Requirements for missing PPI Indexes, procedures for reassigning discontinued PPI Categories at LIFO-PRO’s PPI Category Changes page.
Producer Price Index Usage by Supermarkets to Increase Tax Deferral
Learn how drugs, non-foods & food/beverage indexes cause increase LIFO tax benefits at our PPI Index Usage by Supermarkets to Increase Tax Deferral page.
Switching from the double-extension to link-chain method? Want to achieve higher possible inflation indexes? Learn more at the IPIC LIFO Advantages page.
Request a software trial, LIFO Election Benefit Analysis, Best LIFO Practices Methods Review or cost estimate. All of our requests are complimentary & free of obligation!
Accounting and financial professionals who work with LIFO need to understand the jargon associated with LIFO. Below are a number of LIFO-related terms.
Get answers to who should use the LIFO method, how much LIFO may benefit your company or client & good LIFO candidates by industry & principal business activity along with historical inflation data.
