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-   -   Taxable income change if LIFO is used rather than FIFO? (https://www.askmehelpdesk.com/showthread.php?t=692959)

  • Aug 11, 2012, 11:47 PM
    Hey wood
    Taxable income change if LIFO is used rather than FIFO?
    Beginning balance 4,000 units at 55$ purchases 6,800 units at 60$ units sold 7,800
  • Aug 12, 2012, 05:40 AM
    paraclete
    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

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