DOLLAR VALUE LIFO Definition

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DOLLAR VALUE LIFO, in the U.S., is a method of expressing the value of an inventory in monetary values rather than units. Each homogeneous group of inventory items is converted into base-year prices by using the appropriate price indices. The difference between opening and closing inventories is a measure in monetary terms of the change in the financial period.

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TEST COUNT, in inventory audits, is where a test count is inventory counted by the auditors to check the client's count.

RETURN ON STOCKHOLDERS EQUITY is a measure of how profitably the company is utilizing shareholders funds. It is calculated: profit after tax + total stockholders equity. Also called RETURN ON NET WORTH.

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