IRS practice unit: Overview of dollar value LIFO

IRS practice unit: Overview of dollar value LIFO

The IRS Large Business and International (LB&I) division publicly released a “practice unit”—part of a series of IRS examiner “job aides” and training materials intended to describe for IRS agents leading practices about tax concepts in general and specific types of transactions.

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The title of this “concept unit” (as referred to by the IRS) is: Introduction to Dollar Value LIFO

This concept unit focuses on the dollar-value method of valuing LIFO inventories.

Read the concept unit on the IRS practice unit webpage (posting date of September 15, 2020).

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