Hello. I just listened to the accounting best practices episode. I just had a comment associated with the LIFO method. Most dealerships use actual costs when selling their large inventory. Typically everything that has a vin number, there costs are actualized. I would reccomend concentrating sales on getting rid of old inventory first so profit and cash are not being eaten by floor plan curtailents and interest. Sometimes Flooring units, and selling them first can qualify you for great discounts
Hello. I just listened to the accounting best practices episode. I just had a comment associated with the LIFO method. Most dealerships use actual costs when selling their large inventory. Typically everything that has a vin number, there costs are actualized. I would reccomend concentrating sales on getting rid of old inventory first so profit and cash are not being eaten by floor plan curtailents and interest. Sometimes Flooring units, and selling them first can qualify you for great discounts