Why Do Auto Dealers Choose the LIFO Inventory Valuation Method?
Many auto dealerships in the U.S. choose to use the LIFO inventory valuation method because they have found the benefits to be significant.
Audit and Assurance
LIFO Method: What is LIFO?
The LIFO method, Last-In, First-Out, is used by U.S. companies with IRS approval to value inventory and has been a part of U.S. tax law for over 80 years.