For many companies, inventory is the largest single item on the balance sheet. Yet many of these same companies use cumbersome and potentially outdated processes to calculate their LIFO inflation indexes, requiring weeks of effort. Using such processes, companies may not be deriving calculations that are reliable and transparent and may be using scarce resources inefficiently, missing value-added opportunities.
The National Inventory team at Deloitte Tax LLP can help. We have developed an innovative, customized approach that can help calculate LIFO inventory in a fraction of the time currently spent.
Learn more about our LIFO Consulting services.