The convergence of accelerating inflation and heightened tariff costs creates optimal conditions for adopting LIFO, but taxpayers need to understand the benefits and act promptly.
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FIFO vs. LIFO Inventory Valuation
Key Takeaways The last-in, first-out (LIFO) method assumes that the last unit to arrive in inventory is sold first. The first-in, first-out (FIFO) method assumes that the oldest unit of inventory is ...
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