The Bureau of Labor Statistics (BLS) released December 2020 Consumer Price Indexes (CPI) today. The all items index increased 0.1% in the last month and increased 1.4% in the last twelve months. Food saw an increase of 0.4% in the last month and increased 3.9% in the last twelve months. Cereals and cereal products rose […]
The BLS released November PPI today. The all commodities index increased 0.3% in the last month and decreased 1.4% in the last twelve months. Farm products saw a 3.1% increase from October 2020 and increased 4.2% since November 2019. Processed foods and feeds rose 1.4% between October – November 2020 and increased 1.7% November 2019 […]
The Bureau of Labor Statistics (BLS) released November 2020 Consumer Price Indexes (CPI) today. The all items index decreased 0.1% in the last month and increased 1.2% in the last twelve months. Other food at home decreased 0.7% since October 2020 and increased 2.9% since November 2019. Peanut butter saw a 0.1% increase from last […]
COVID-19 has caused the following circumstances for RV dealers: Above average sales volume Appreciating used equipment prices Depleted inventory levels LCM reserve liquidations Increased taxable income from: Above average sales volume LCM reserve liquidations LIFOPro identified the following planning opportunities for RV dealers seeking to create after-tax cash savings & reduce taxable income: RV dealers […]
The BLS released October PPI today. The all commodities index has increased 0.3% in the last month and decreased 1.4% in the last year. Processed foods & feeds rose by 1.1% from September 2020 and saw an increase of 0.7% since October 2019. Fruits & melons, fresh/dry vegs. & nuts increased by 9.2% from September […]
LIFOPro has completed the annual updates to the excel file used by LIFOPro clients for populating BLS PPI Table 9 category names via VLOOKUP formulas in their inventory detail files. LIFOPro clients should use the email received containing the Complete Table 9 PPI Category Name file download link to obtain the updated file (feel free […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
