The history of LIFO illustrates the interplay of taxes and the general acceptance of accounting principles. In this paper, the gradual acceptance of LIFO in the United States is traced. The study focuses on both the theoretical evolution of LIFO and its acceptance by taxing authorities and accountants.
Davis, Harry Zvi
"History of LIFO,"
Accounting Historians Journal: Vol. 9
, Article 1.
Available at: https://egrove.olemiss.edu/aah_journal/vol9/iss1/1