DOLLAR-VALUE LIFO

Dollar-Value LIFO Inventory Method



Dollar-Value LIFO Inventory Method

Introduction

Dollar Value LIFO methods represent inventory management approach by the company in terms of dollar value instead of reporting in number of units. Adaptation of this accounting model will result in changing the balance sheet structure at year end with respect to change in the economic structure and subsequent impact on the inventory cost (Epstein, 2010). This paper presents an analysis of dollar-value-LIFO method of inventory including its impact on the financial statement items followed by inventory valuation issues under Dollar value LIFO method.

Dollar Value LIFO Inventory Method

In order to manage changes in ...