# ASC 330-10-S55: Inventory — Overall — SEC 55 Implementation Guidance and Illustrations

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/330/10/#sec-55-implementation-guidance-and-illustrations)

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## ASC 330-10-S55: SEC 55 Implementation Guidance and Illustrations

[Read section](https://asc.understandingaccounting.org/asc/330/10/#sec-55-implementation-guidance-and-illustrations)

SEC content: yes

#### LIFO Inventory Practices

##### [330-10-S55-1](https://asc.understandingaccounting.org/asc/330/10/#330-10-S55-1)

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See paragraph [330-10-S99-1](https://asc.understandingaccounting.org/asc/330/10/#330-10-S99-1), SAB Topic 5.L, for SEC Staff views on appropriate last-in, first-out (LIFO) accounting practices.