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LIFO Blog


Sunday, June 18, 2017

LIFO Coalition Meeting Highlights

LIFO Coalition Meeting Highlights The LIFO Coalition held a meeting in Washington, DC on Monday, June 12th. LIFO-PRO attended the meeting and also met with LIFO Coalition Executive Secretariat Jade West on Tuesday. Highlights of these meetings are provided below: LIFO Repeal Update As of the date of this meeting, LIFO repeal is not part […]

Categories: LIFO Blog, LIFO Repeal
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Friday, May 12, 2017

April ’17 PPI Top 10 Gainers

April PPI Top 10 Gainers The Bureau of Labor Statistics (BLS) released April 2017 PPI yesterday. Listed below are the top 10 gainers by PPI Category Code & Name:

Categories: LIFO Blog, BLS
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April ’17 CPI Top Five Gainers

April CPI Top 10 Gainers April 2017 CPI was released by the Bureau of Labor Statistics (BLS) earlier today. The top 5 gainers are shown in the table below by BLS CPI category name:

Categories: LIFO Blog, BLS
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Friday, April 14, 2017

March ’17 CPI Top Five Gainers

March CPI Top 10 Gainers March 2017 CPI was released by the Bureau of Labor Statistics (BLS) earlier today. The top 5 gainers are shown in the table below by BLS CPI category name:

Categories: LIFO Blog, BLS
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Thursday, April 13, 2017

March ’17 PPI Top 10 Gainers

March PPI Top 10 Gainers The Bureau of Labor Statistics (BLS) released March 2017 PPI today. Listed below are the top 10 gainers by PPI Category Code & Name:

Categories: LIFO Blog, BLS
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Wednesday, March 29, 2017

Clarifying the Acceptability of Differing Book & Tax LIFO Methods

Clarifying LIFO Conformity Rule Misinterpretations Related to the Acceptability of Differing Book & Tax LIFO Methods The convoluted nature of LIFO has caused accounting professionals to believe that companies must use uniform Book (Financial Reporting) & Tax LIFO methods. That misconception is incorrect. Both IRS Regs. & GAAP allow for companies to have differing Book […]

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Wednesday, March 15, 2017

February ’17 CPI Top Five Gainers

February CPI Top 10 Gainers February 2017 CPI was released by the Bureau of Labor Statistics (BLS) earlier today. The top 5 gainers are shown in the table below:

Categories: LIFO Blog, BLS
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Tuesday, March 14, 2017

February ’17 PPI Top 10 Gainers

February PPI Top 10 Gainers The Bureau of Labor Statistics (BLS) released February 2017 PPI today. Listed below are the top 10 gainers by PPI Category Code & Name:

Categories: LIFO Blog, BLS
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Wednesday, February 15, 2017

January ’17 CPI Top Five Gainers

January CPI Top 10 Gainers January 2017 CPI was released by the Bureau of Labor Statistics (BLS) earlier today. The top 5 gainers are shown in the table below:

Categories: LIFO Blog, BLS
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Tuesday, February 14, 2017

Why to Not Use Manual Spreadsheet Formulas to Calculate LIFO

Why to Not Use Manual Spreadsheet Formulas to Calculate LIFO =IF(F46>0,F46*D46,IF(-F46<C57,F46<C57,F46*D57,IF(F46<C58,F57+((F46+C57*D58),IF(-F46<C59,F58+((F46+C58)*D59, IF (F46<C60, F59+((F46+C59)*D60),IF(F46<C61,F60+((F46+C60)*D61),IF(-F46<C62,F61+((F46+C61)*D62),IF(-F46<C63,F62+((F46+C62)*(D63),IF(F46 <IF(F46<C64,F63+((F46+C63)*D64),IF(-F46<C65,F64+((F46+C64)*D65),IF(-F46<C66,F65+ ((F46+C65+ ((F46+C65)*D66),IF(F46<C67+ ((F46+C66)*D67),IF(F46<C68,F67+((F46+C67)*D68),IF(-F46<C69,F68+(( F46+C68)*D69),IF(-F46<C70,F69+((F46+C69)*D70),ERR))))) This is an example spreadsheet formula that calculates LIFO inventory balances & all possible layer liquidation possibilities for a company with 15 LIFO layers. These types of formulas are convoluted & require updating when used in […]

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