Attar, Onur2016-07-012016-07-011996http://hdl.handle.net/11693/30102Cataloged from PDF version of article.In this study; the effect of latest changes in the tax codes regarding the use of Last In First Out ( LIFO ) method of inventor}' valuation as a means of overcoming the effect of inflation is examined in a case study. LIFO method is applied to inventory valuation of ATTARLAR Mak. San. ve Tic. A.Ş.: a firm operating in the trading sector of fertilizers, MKE Products and Agricultural Chemicals for the period 1990-94. Usage of the LIFO method y ielded reductions in the taxes paid; however since the 41th item of the code no. : 193 of the procedural tax law of Türkiye restricts the amount of expenses deducible from taxes; the overall effect is not a reduction in the taxes paid. Besides, main preconditions to be satisfied to be able to use the LIFO method ; non-decreasing levels of inventories and a continuous upward trend in the specific price level faced by the firm are not satisfied. In the sector; price levels and stocks are found out to exhibit fluctuating patterns due to government subsidizing policies and weather conditions respectively.43 leaves, [16] leaves of plates, graphicsEnglishinfo:eu-repo/semantics/openAccessLIFO MethodInventor}' ValuationStock ValuationInflation AccountingHF5658.5 .A88 1996Accounting Effects of inflation on Turkey.ThesisBILKUTUPB041228