U.S. Income Tax Accounting for Inventories

115 Pages Posted: 6 May 2009

See all articles by Lawrence Lokken

Lawrence Lokken

University of Florida College of Law

Date Written: May 2, 2009


This paper is a chapter from a forthcoming third edition of volume 5 of Boris I. Bittker & Lawrence Lokken, Federal Taxation of Income, Estates and Gifts. It is a general description and analysis of U.S. income tax rules on inventory accounting. It covers general topics, such as the role of inventories in income computations and the requirement that some businesses use inventories in computing taxable income. It also discusses more specialized topics, including several variations of the last-in-first-out (LIFO) method and the requirement that securities dealers use a mark-to-market system for their inventories.

Keywords: taxation, inventories

JEL Classification: K34

Suggested Citation

Lokken, Lawrence, U.S. Income Tax Accounting for Inventories (May 2, 2009). Available at SSRN: https://ssrn.com/abstract=1398126 or http://dx.doi.org/10.2139/ssrn.1398126

Lawrence Lokken (Contact Author)

University of Florida College of Law ( email )

P.O. Box 117625
Gainesville, FL 32611-7625
United States

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