Walmart: retail investors need to know their LIFO from their FIFO

Walmart: retail investors need to know their LIFO from their FIFO | Financial Times

An alphabet soup of inventory accounting terms has been appearing in US earnings results 

✒ When accounting policy matters — Walmart flagged that it expected LIFO (last in first out, an accounting assumption used in the calculation of cost of goods sold) charges to shave $1 billion off its gross profit for next year.

Earlier this year Kroger made similar announcement (link).