Expenses
» Expenses, Volume 6, Issue 4, 2006
If inventories are among the five largest business expenses in respondent's business.
3c. Do you use LIFO, FIFO, another method, or are you not sure of the method used to account for your inventories?
| Response | ||||
|---|---|---|---|---|
| 1 | LIFO | 13 | ||
| 2 | FIFO | 16 | ||
| 3 | Other | 35 | ||
| 4 | Not sure | 35 | ||
| 5 | DK | 2 | ||
| Total (%) | 101 | |||
| N | 751 | |||
Notes: Thirteen (13) percent of small employers with businesses that have significant inventories identify LIFO as the method of inventory accounting they use (Q#3c).
