Lukka provides reporting for FIFO, LIFO, and HIFO accounting methodologies. When choosing your methodology, please consult your tax professional for your personal requirements. You can read the relevant IRS guidelines here.
NOTE: Lukka does not provide tax advice. The statements above are general in nature and do not address how the application of the tax rules can vary based on a taxpayer’s actual facts. Please consult a tax professional on how the tax rules apply to your specific facts.