Company shows inventory problem


In 2010, a company shows inventory of $250,000 using LIFO. If the company had used FIFO, its inventories would have been higher by $40,000 and $30,000 in 2010 and 2009, respectively. Its LIFO reserve in 2010, therefore, is:

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Accounting Basics: Company shows inventory problem
Reference No:- TGS076883

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