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This research seeks to update and finally determine for the Fortune 500 whether the market values the inventory valuation choice of last-in, first-out (LIFO) over first-in, first-out (FIFO) as some signal of reporting and management quality. The market can adjust LIFO earnings to FIFO earnings. Thus, the only issue then is that companies choosing FIFO pay higher taxes, which shareowners should disfavor. Indeed, only 20 percent of the Fortune 500 utilize LIFO to value any inventory. However,doi:10.22495/jgr_v1_i2_p7 fatcat:trkpirk5i5bnxcernalrwftt6q