Written by but not entirely for lawyers accountants will also find this work of interest this volume describes in detail the history and principles of the last-in, first-out method (LIFO), making a very pointed case for a complete overhaul of the way this method is currently taxed by the IRS. Individual chapters discuss the specific goods method, the cost method, dollar-value pools, indexes, and applications. Davenport, who taught previously at the U. of California in Davis, is an editor for Tax notes . Seago teaches accounting at Virginia Polytechnic Institute and State U. Annotation c. Book News, Inc., Portland, OR (booknews.com)
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