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View Full Version : Taxable income change if LIFO is used rather than FIFO?


Hey wood
Aug 11, 2012, 11:47 PM
Beginning balance 4,000 units at 55$ purchases 6,800 units at 60$ units sold 7,800

paraclete
Aug 12, 2012, 05:40 AM
taxation is concerned with valuation not methodology so the calculation is not difficult
7800 units will be split according to the various methods and valued accordingly

maximum difference 3800x$5