id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
ftr-484	Morse, Edward A.	Demystifying LIFO: Towards Simplification of Inflation-Adjusted Inventory Valuation	2022	71	.pdf	application/pdf	32421	1669	56	Since our income tax system permits only a cost basis for LIFO inventories, this approach focusing on value is not discussed here. Nevertheless, these authors accepted the validity of component costing for both tax and financial accounting purposes: Although the technique of computing LIFO inventories on the basis of units of cost component appears well grounded in accounting theory and tax law, it may be considered fallacious by independent theorists.	cache/ftr-484.pdf	txt/ftr-484.txt