We can assist your dealership with the implementation and compliance of the LIFO inventory method for valuing new and/or used vehicles. We use SourceCorpİ LIFO system software to generate index computations, LIFO reserve, LIFO layers and inventory reconciliation reports. If your dealership is currently using the LIFO inventory method of valuing new and/or used vehicles, we can determine if it has been handled properly and conforms to current IRS guidelines and regulations before a possible audit situation arises.
We offer LIFO solutions to meet the needs of today's dealers and are in the form of comprehensive software programs:
Comprehensive Software Solutions
- Alternative Method Software - AMS (new cars and light-duty trucks)
- Used Vehicle Alternative Method Software - UV-AMS (used cars and light-duty trucks Black Bookİ version
- Kelley Blue Bookİ version
Consulting Solutions
- Form 3115 preparation or review
- Form 970 preparation or review
- Index conversion / LIFO layer rebasing
- Pool splits or combinations
- Review/recomputation of LIFO layers and/or reports
