Completely automate LIFO calculations, documentation & reporting. Minimize the time spent making LIFO calculations in-house. Maximize LIFO calculation accuracy. Make quick interim LIFO estimates & ad-hoc projections. Strengthen internal controls. Create audit-proof LIFO calculations backed by the credibility of a SOC report. Simplify LIFO with the LIFOPro software!

  • Features
    • In-house LIFO calculation &  documentation/reporting automation
    • Automates both aspects of the LIFO calculation, including:
      • Inflation calculation (front end)
      • LIFO reserve calculation, including LIFO layer history, LIFO inventory, reserve & expense (income) calculation
    • Internal index module includes a complete range of features & settings, including:
      • Double-extension (current vs. base year cost comparison) or link-chain (current vs. prior year cost comparison)
      • New item treatment, including new item cost reconstruction
      • Outliers & exceptions identification & treatment
      • Analysis & statistics reports, including inflation index calculation breakouts by product hierarchy (class)
      • Loading multiple data input files and/or sheets
      • Single or multiple pool calculation
    • External index module (IPIC module) includes a complete range of features & settings, including:
      • BLS table type (CPI or PPI)
      • Current & prior year appropriate month selection
      • Preliminary or final indexes
      • 10% method or non 10% method groupings
      • IPIC method or non-IPIC pooling method
      • Current vs. prior year balances by BLS category comparator report
      • Automated interim estimates using year to date inflation & prior year balances by BLS category
    • All reports can be printed/saved as Adobe PDF or Excel files
    • Can be installed on & be used by an unlimited number of users/devices
    • Can be installed on-premise & accessed via LIFOPro’s private cloud
    • Includes unlimited training & support
  • Benefits
    • Minimize time spent in-house managing LIFO calculation
    • Guarantee calculation accuracy & eliminate errors
    • Eliminate error-prone spreadsheet formulas & Excel schedules & replace them with comprehensive, user-friendly reports
    • Simplify calculation policies/procedures & reporting
    • Increase reporting transparency & understandability
    • Easily & quickly make interim estimates & ad-hoc projections
    • Reduce reliance on IT department
  • How it Works: First-Time Setup

  • How it Works: Calculation & Reporting

  • How it Works: Inflation Calculation Modules

  • How it Works: Reporting Module

  • LIFOPro Software Reports
    • Inflation index calculation (front-end reports)
      • Internal Indexes
        • Current year index calculation summary (Report 27)
        • Current year index calculation detail (Reports 27a & 27b)
        • Missing item cost exceptions detail (Report 28a)
        • Price change outliers detail (Report 28b)
        • Data input statistics (Report 29)
        • Inflation by product hierarchy (Report 30)
      • External Indexes (IPIC CPI/PPI)
        • Current year index calculation summary (Report 23S)
        • Current year index calculation detail (Report 23)
        • Category inflation index calculation detail (Report 24)
        • Discontinued/replaced BLS categories (Report 25)
        • IPIC pooling method 5% test proof (Report 26)
    • LIFO reserve calculation (back-end reports)
      • Current year LIFO calculation summary (Report 18)
      • Current year LIFO reserve calculation proof (Report 18a)
      • LIFO inventory history summary (Report 16)
      • LIFO layer history proof (Report 16a)
      • LIFO inventory history detail (Report 17)
      • LIFO expense components (Report 19)
      • LIFO reserve by layer (Report 15)
    • Supplemental reports
      • Projections (Report 1)
      • Consolidated reports for multiple entities
      • Reports including Sec. 263A UNICAP costs
      • IPIC CPI/PPI comparator report
  • Pricing & Terms

  • Service Organization Control (SOC) Report
    • Independent CPA firm issues SOC 1 Type 2 report to LIFO-PRO annually (formerly known as SAS 70 Report)
    • Prepared in accordance with AT-C section 320, Reporting on an Examination of Controls at a Service Organization Relevant to User Entities’ Internal Control Over Financial Reporting
    • Report on the fairness of the presentation of management’s description of the service organization’s system and the suitability of the design and operating effectiveness of the controls to achieve the related control objectives included in the description throughout a specified period
    • Provides clients & their CPA firms our independent auditor’s annual report on controls & service procedures in place & software used by LIFOPro
    • Providing auditors with this report could reduce substantive testing related to LIFO calculation
    • Copy of this report is available to LIFOPro software users & their auditors/CPA firms
  • How to Get Started
    • Use one of the two options to receive fee quote or complimentary software trial
    • LIFOPro will email you fee quote within 2-3 business days of receiving above documentation
    • LIFOPro will also email a sample set of LIFOPro reports using the results of your company’s last period closed
    • If requested, LIFOPro will also send you software database files to trial the software using your company’s actual historical calculation data
  • Learn More

Get Started Today!


Get a Software Trial

Trial the software for 90 days! Complete our request form to get a no obligation LIFO-PRO software trial. Choose if you want us to load your historical LIFO documentation into the LIFO-PRO software or use sample information. The best part is the software is trialed online, meaning no installation is required!

Get Started

Schedule a Call or Demo

Have a phone call or WebEx with the LIFO-PRO team to demo the software or to get started today. Schedule online using our easy-to use booking tool.

Schedule Call or Demo

Get a cost estimate or complimentary review

Request a cost estimate, complimentary LIFO Calculation, Methods & Best Practices Review Report, or complete our online NDA at our Request Forms page.

Request Forms Page

Get a Software Trial, Review or Cost Estimate

Trial the software for 90 days. Get a complimentary review. Request a cost estimate. Use our simple request form to get your complimentary offering today!


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