Companies that hold inventory must have a structured way of managing it. When the production or sales departments need material from inventory, they can either take it from the most recently purchased ...

A company with last-in-first-out (LIFO) inventory that experiences a decrease in LIFO inventory would typically have additional taxable income related to the LIFO decrement. A LIFO decrement is the ...

If you are a merchandising or manufacturing company, your profits depend on selling your inventory for more than you paid to acquire it. The bigger the margin between the selling price and the cost of ...

In a recent article, Edward D. Kleinbard, George A. Plesko, and Corey M. Goodman argue that last-in, first-out inventory accounting gives an undue tax preference to inventories and should be ...

The American Institute of CPAs wants the Internal Revenue Service and the Treasury Department to help businesses facing foreign trade obstacles to maintaining inventory during the pandemic. Processing ...