The effect of firms’ accounting techniques on firms’ equilibrium values is the general topic considered here. The specific technique examined is the inventory-costing method -- e.g., LIFO or FIFO -- adopted for tax reporting. The connection between firms’ selections of accounting...

The effect of firms’ accounting techniques on firms’ equilibrium values is the general topic considered here. The specific technique examined is the inventory-costing method -- e.g., LIFO or FIFO -- adopted for tax reporting. The connection between firms’ selections of accounting...