Still, for businesses struck by inflation, it's better to get even a couple years of tax benefits from LIFO than none at all, point out proponents of the accounting method. After all, asks Schneider, "When have we ever seen deflation?"
Inflationary Economy Makes Small Firms Look for New Accounting Methods
LIFO can save some businesses money, but it's politically controversial
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chibueze of @ Sep 20, 2008 07:35:38 AM