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What is the lifo reserve

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Question: The ending inventory under LIFO is $56,030. Under FIFO, the ending inventory is $48,920. The sales were $590,840 while the cost of goods sold was $388,745.

1. What is the LIFO Reserve?

The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM131756319

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