The Bureau of Labor Statistics (BLS) released August 2020 Consumer Price Indexes (CPI) today. The All commodities index saw an increase of 0.3% in the last month and increased by 1.3% in the last 12 months. Food rose by 0.1% from July – August ’20 and has risen 4.1% between August 2019 – August 2020. […]
The BLS released August 2020 PPI today. The All commodities index increased 0.6% over the last month & decreased 2.6% from August ’19 – ’20. Processed foods decreased 0.3% from July – August ’20 and increased 0.3% between August 2019 – August 2020. Lumber and wood products saw a rise of 5.1% in the last […]
The Bureau of Labor Statistics (BLS) released July 2020 Consumer Price Indexes (CPI) today. The All Commodities index saw a 0.5% increase over the last month & has increased 1.0% over the last 12 months on a seasonally unadjusted basis. Housekeeping supplies increased 1.8% from June – July 2020 & rose 5.2% between July ’19 […]
The Bureau of Labor Statistics (BLS) released July 2020 Consumer Price Indexes (CPI) today. The All Commodities index saw a 0.5% increase over the last month & has increased 1.0% over the last 12 months on a seasonally unadjusted basis. Housekeeping supplies increased 1.8% from June – July 2020 & rose 5.2% between July ’19 […]
How LIFO Works The LIFO inventory method matches current period revenues with the most recent period’s costs to provide a better measure of current earnings when there is inflation. The LIFO method transfers the inflationary portion of the ending inventory balance from the balance sheet to the income statement via cost of goods sold. When […]
LIFOPro highly values the relationships we have with all of our software users. When we begun as a software-only company, we knew there was a great desire for automating calculations & greatly simplifying LIFO procedures. Since then, we’ve taken great pride in having of the most reputable & successful companies as software users. In our […]
As LIFOPro has evolved in the last three decades since our inception in 1992, we are constantly making improvements based on our client’s needs. With the advancement of technology, companies are expecting web-based software solution options more than ever. LIFOPro has answered that call with our new private cloud. As efficient as our software & […]
The Bureau of Labor Statistics (BLS) released June 2020 Consumer Price Indexes (CPI) today. The All Commodities index saw a 0.5% increase over the last month & has increased 0.6% over the last 12 months on a seasonally unadjusted basis. All items less food and energy increased 0.2% from May – June 2020 & rose […]
The BLS released June 2020 PPI today. The All commodities index decreased 4.6% over the last month & increased 0.9% from June ’19 – ’20. Food Commodities Fruits & vegetables rose 6.7% between May – June 2020 & has declined 0.9% over the last 12 months. Chicken eggs decreased 1.6% from May 2020 to June […]
The BLS released May ’20 PPI today. The All commodities index increased 1.8% from April – May ’20 & decreased 6.1% between May ’19 – ’20. Commodities Affected by COVID-19 & the Related Supply/Demand Volatility Food Fruits & melons, fresh/dry vegetables & nuts saw a 5.7% decrease between April – May 2020 and a 6.1% […]
The Bureau of Labor Statistics (BLS) released May 2020 Consumer Price Indexes (CPI) today. The All commodities index was unchanged over the last month & has increased 0.1% over the last 12 months on a seasonally unadjusted basis. All items less food and energy decreased 0.1% from April – May 2020 & rose 1.2% between […]
Defining Good LIFO Candidates When weighing the costs & benefits of using the LIFO method, the following factors are key in determining if a company is a good LIFO candidate Inflation rate – When working with companies to determine if they’re a good LIFO candidate, we look for a historical average annual inflation greater than […]
