Understanding LIFO Accounting for the Food and Beverage Industry
EisnerAmper Podcast
00:00
The Economic Benefits of Utilizing the LIFO Method
The LIFO method is the principle that income is more clearly reflected by matching current costs with current revenues. The food and beverage industry represents the biggest share of our client base because of this. Food and beverages has a long history of consistent and meaningful inflation, which can add up to material LIFO tax benefits. Other industries that are great candidates include machinery, equipment, furniture, and household durable goods.
Play episode from 02:03
Transcript
