LIFO Inventory Calculation Services

Willard J. De Filipps, CPA, PC provides LIFO inventory calculation services to a variety of types of businesses, including automobile dealerships, pharmaceutical companies, flooring companies, wineries, manufacturers and others.

These comprehensive service offerings reflect Mr. De Filipps’ more than 45 years of experience studying, teaching and working with the Last-In, First-Out (LIFO) inventory method of accounting.

LIFO Inventory Calculations

(for businesses other than automobile dealerships)

LIFO inventory calculation services that Willard J. De Filipps, CPA, PC provides include…

  • LIFO inventory analysis and calculations under the link-chain index method of accounting and others.
  • Year-end planning and projections of LIFO reserves
  • Form 3115 review & consultation

For more information on our LIFO inventory calculation services, please contact Willard De Filipps at (847) 577-3977 or will@defilipps.com.

LIFO Inventory Reports (LIRs) for Automobile Dealerships

For its Last-In, First-Out (LIFO) Inventory calculation services and Reports for automobile dealerships, Willard J. De Filipps, CPA, PC utilizes SuperLIFO™ ... a comprehensive, state-of-the-art, proprietary software program for auto dealers using the Last-In, First-Out (LIFO) method for valuing their inventories of new and/or used vehicles.

Our LIFO Reports provide many benefits and can save almost any dealership a great deal of time and effort, while providing valuable summary information as part of our services which include...

  • Year-end planning and projections of LIFO reserves
  • Form 3115 review & consultation
  • Inflation rate information for new vehicle makes and models

About SuperLIFO™ ... Our SuperLIFO™ software program reflects a compromise proposal that Mr. De Filipps submitted in July 1992 to the IRS for a simplified LIFO method for automobile dealers, based on his extensive practical experience working with auto dealers’ LIFO inventories since 1974. In September 1992, the IRS issued Revenue Procedure 92-79, the Alternative LIFO Method for Automobile Dealers, which closely mirrored many of Mr. De Filipps’ submitted suggestions and sample computations.

For more information on our dealership LIFO Inventory Reports and services, please contact Ms. Wallie Mueller at (847) 577-3977 or wallie@defilipps.com.