In Brief The recent surge in inflation has led managers to reassess the best inventory valuation methods—first-in-first-out (FIFO) or last-in-first-out (LIFO). In times of rising prices, FIFO typically results in higher earnings, while LIFO can reduce tax liabilities. This article explores the advantages and disadvantages of each method, providing accountants with the insights needed to […] The post LIFO or FIFO During Inflationary Times? appeared first on The CPA Journal.
