Complimentary Interim LIFO Estimate Request Form

Complimentary Interim LIFO Estimate Request Form
Full Name
Company Name *
Email Address *
Is this estimate for financial reporting (book) LIFO, tax LIFO, both or does your company make a single LIFO calculation? (i.e. Book & Tax LIFO are the same)
Book & Tax LIFO are the same (single calculation)
Tax LIFO only
Book LIFO only
Both Book & Tax LIFO (separate calculations)
Note: If requesting separate interim book & tax LIFO estimates, provide separate book & tax LIFO documentation.
Select the method for sending the documentation required to perform your interim LIFO estimate
This request form (file transfer box will appear below if selecting this option)
Email (email to lifopro@lifopro.com)
Other (explain in comments box below)
Documentation Upload

Click or drag files to this area to upload. You can upload up to 20 files.

Upload or email the following documentation to LIFOPro in order to receive your free interim estimate: COMPANIES USING ALTERNATIVE LIFO SERVICE PROVIDER: Last year's LIFO PDF report package(s) COMPANIES MAKING LIFO CALCULATIONS IN-HOUSE: 1. LIFO calculation documentation for the last period closed
Comments/Requests
Request a fee quote, LIFOPro software trial or to schedule a call with us by entering any additional request in this box.
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How it Works
- Company requests complimentary interim LIFO estimate using one of the following two methods:
  - Completes required fields & uploads required documentation using Interim LIFO Estimate Request Form in below tile
  - Emails request to lifopro@lifopro.com & attaches required documentation to that email (include “Interim LIFO estimate” in subject line)
- LIFOPro imports company-provided documentation into software in order to build database file containing LIFO layer history as of most recent period closed
- LIFOPro imports the following company-provided documentation or enters company-defined values into software in order to complete inflation calculation:
  - External inflation measurement source (aka external indexes or IPIC Method using Bureau of Labor Statistics Consumer/Producer Price Indexes or BLS CPI/PPI)
    - Inventory balances at cost by BLS CPI/PPI category as of the most recent period closed
    - Year to date BLS inflation for the most recently released index period. For example, if you have a December year end, use a December appropriate month, use preliminary indexes & request your estimate on August 9th, LIFOPro will use year to date inflation for the 6 months ended June 2022 (June 2022 ÷ December 2021 BLS indexes).
  - Internal inflation measurement source (aka Internal Indexes)
    - Full inflation calculation
      
      Current period’s quantities on hand
      
      Current & prior/base period’s item/unit costs
    - Ad-hoc estimate
      
      User-defined range of current year indexes
      
      User-defined range of current period or projected period end inventory balance at cost
- LIFOPro software completes LIFO reserve calculation
- LIFOPro uses software to prepare interim LIFO estimate PDF report package containing comprehensive interim LIFO estimate results, including (reports also available in Excel format):
  - Current period only & all periods
  - Pool detail & all pools combined totals
  - LIFO projections report showing array of LIFO expense (income) values based on user-defined range of current year indexes & current period inventory balances at cost
- Company receives complimentary interim LIFO estimate report package from LIFOPro via email within 3 days of submitting request & providing required documents
Documentation Requirements
- Companies using alternative LIFO service provider: LIFO PDF report package(s) from the last period closed
- Companies performing LIFO calculation in-house: LIFO calculation documentation for the last period closed. Depending on the inflation measurement source used, should include the following applicable items:
  - Companies using external inflation measurement source (aka external indexes or IPIC method using Bureau of Labor Statistics Consumer/Producer Price Indexes or BLS CPI/PPI)
    - LIFO layer history or carryforward schedule from the most recent period closed
    - Inventory balances at cost by BLS CPI/PPI category summary schedule from the most recent period closed
    - Any other documentation not listed above used to complete LIFO calculation (including policies/procedures documentation)
  - Companies using internal inflation measurement source (aka internal indexes)
    - LIFO layer history or carryforward schedule from the most recent period closed
    - Inflation calculation documentation from the most recent period closed
    - Optional: Current period’s item detail or stock status reports showing current period’s quantities on hand & item/unit/standard costs (LIFO projection report will be provided if we are not provided the current period’s item detail report(s))
    - Any other documentation not listed above used to complete LIFO calculation (including policies/procedures documentation)
Learn More or Schedule a Call
Want to learn more about our interim LIFO estimate process? Curious regarding our complimentary Best LIFO Practice Reviews? Wondering how our turnkey outsourcing solutions or software works? Use any of the following resources to do so:
- Schedule a call with the LIFOPro team today: Use one of the following methods to do so:
  - Online scheduler
  - Email us at lifopro@lifopro.com
  - Call us at 402-330-8573 M – F 8am – 5pm CDT
- Visit our Resources pages:
  - Best LIFO Practices & Review
  - Downloads
- Visit our Offerings pages:
  - Turnkey Outsourcing Solutions
  - Software

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Request Forms Page

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Complimentary Interim LIFO Estimate Request Form