LIFO-PRO Software Features & Demo

LIFO-PRO Software Features

The LIFO-PRO Software features comprehensive LIFO calculation and reporting functionality & is organized as follows:

  • Internal Index Calculation Module- Allows users to import inventory data to perform linked-chain internal index LIFO calculations
  • IPIC Calculation Module- Allows users to import inventory data to perform IPIC weighted-average pool index LIFO calculations
  • Reporting Module- Allows users to close year end LIFO calculations and create a comprehensive set of LIFO reports, ensures 100% accurate LIFO calculations and complete LIFO layer history carryforward
  • UNICAP Module- Allows users to enter Sec. 263A Absorption Ratio in order to calculate UNICAP Sec. 263A costs and create integrated LIFO-UNICAP reports.

LIFO-PRO Internal Index Calculation Module Features

  • Automatic calculation of current year inflation index for all items
  • New item current year inflation index assignment
  • Importing of inventory data in excel file format into the LIFO-PRO software
  • Handles inventory data files for companies with multiple pools
  • Variance analysis provides reports that identify inventory items with significant cost changes

LIFO-PRO IPIC Calculation Module Features

  • Automatic CPI/PPI Category and index lookup
  • 10% method calculation completely automated
  • Automatic BLS Weights lookup & determination of which year’s weights to use
  • 5% pooling test automatically performed
  • Handles an unlimited number of CPI/PPI Category Codes
  • Inventory balances may be entered at any detail level, e.g. most detailed, less detailed or both
  • Implicit or explicit definition of items for 10% Method calculations
  • Automatic BLS Category Code substitution & replacement for unpublished & discontinued indexes

LIFO-PRO Software Reporting Module Features

  • Comprehensive current year, prior year and subsequent years LIFO Reports
  • Automatic period carryforward following completion and closing of year end LIFO calculations
  • Works for both Retail LIFO and Cost LIFO
  • Performs both book and tax calculations
  • Works with both Internal (company developed) and external (BLS PPI or CPI) indexes
  • Historical data may be input & maintained in “complete” or “layers only” history format
  • Automatic UNICAP(Sec. 263A) rates and costs applied and calculated for all pools for a given year
  • Consolidated Reporting (for rolling up multiple entity’s LIFO data into a single set of reports)
  • All reports can be saved as Excel or Adobe .pdf files
  • Automated Standard Report Printing
  • GAAP-required disclosures reporting

LIFO-PRO Software Demo:

Click on the button below to download a demo of the LIFO-PRO software:

iconLIFO-PRO Software Demo Download

Follow the instructions below to open the self-extracting executable .exe file:

  1. Navigate to the folder you downloaded the file to
  2. Open the demo by double-clicking on the Software Demo Download file named “LPsw61703.exe”
  3. An InstallShield wizard menu screen will appear; click on the “Next” button and the demo will start

Sample LIFO-PRO Reports

Sample LIFO-PRO Reports

LIFO-PRO Software Price Estimate Request