{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/330/10/#sec-55-implementation-guidance-and-illustrations","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"330","topic_title":"Inventory","subtopic":"330-10","subtopic_title":"Overall","section":{"number":"S55","label":"SEC 55 Implementation Guidance and Illustrations","anchor":"sec-55-implementation-guidance-and-illustrations","is_sec":true,"groups":[{"block":null,"heading":"LIFO Inventory Practices","paragraphs":[{"citation":"330-10-S55-1","para":"S55-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_64E753A7-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">See paragraph <a href=\"/asc/330/10/#330-10-S99-1\" class=\"xref\">330-10-S99-1</a>, SAB Topic 5.L, for SEC Staff views on appropriate last-in, first-out (LIFO) accounting practices. </span></span></div></div>","snippet":"See paragraph 330-10-S99-1, SAB Topic 5.L, for SEC Staff views on appropriate last-in, first-out (LIFO) accounting practices.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:da66a936a84b9969a5f70d47d3abb1f06ab18f17f94fc69300c264d95e528534","downloaded_from":"2026-09-09T23:51:16.811Z","last_downloaded_at":"2026-09-09T23:51:16.811Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480235","source_sha256":"9dafeaf859a919a46f00464f0d1fcb1eea81f61d0598d3003ce9ba38562858a4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e4d99a89f139aba8a1f0f1fa45686f23b4be099e957de5edbb2ebb0f1fd55d56","downloaded_from":"2026-09-09T23:51:16.811Z","last_downloaded_at":"2026-09-09T23:51:16.811Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480235","source_sha256":"9dafeaf859a919a46f00464f0d1fcb1eea81f61d0598d3003ce9ba38562858a4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:67a424d19b324c31db65fe2a39d7f10127c49eecc03f84c9ca16ab7b107ed263","downloaded_from":"2026-09-09T23:51:16.811Z","last_downloaded_at":"2026-09-09T23:51:16.811Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480235","source_sha256":"9dafeaf859a919a46f00464f0d1fcb1eea81f61d0598d3003ce9ba38562858a4"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:67a424d19b324c31db65fe2a39d7f10127c49eecc03f84c9ca16ab7b107ed263","downloaded_from":"2026-09-09T23:51:16.811Z","last_downloaded_at":"2026-09-09T23:51:16.811Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480235","source_sha256":"9dafeaf859a919a46f00464f0d1fcb1eea81f61d0598d3003ce9ba38562858a4"}}