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    Hey wood's Avatar
    Hey wood Posts: 1, Reputation: 1
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    #1

    Aug 11, 2012, 11:47 PM
    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
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    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
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