MSCI Supports Resolution To Preserve LIFO
In late July, Rep. Roger Williams (R-TX) introduced H. Con. Res. 69, a resolution that expresses the sense of Congress “that any reform or repeal of the last-in, first-out method of accounting for inventories (LIFO) would cause irreparable and unnecessary damage to United States businesses.”
MSCI strongly supports this resolution and asks its members to call their representatives in the U.S. House to urge them to sign onto the resolution as cosponsors.
Jade West, who runs the LIFO Coalition that MSCI is a member of, said the coalition strongly supports Rep. Williams’ resolution. West argued, “Businesses across the country rely on LIFO to accurately and efficiently manage their inventories” and said that ”it is reassuring that Rep. Williams has taken a stand to recognize the value of this widely-accepted accounting method.”