What was the end of year fifo inventory balance

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Question: Company X uses FIFO for internal purposes, but LIFO for external reporting purposes. At the beginning of the year, the LIFO reserve was $20,000. At the end of the year, the LIFO reserve was $23,000. The end of year LIFO inventory balance for external reporting purposes was $40,000. What was the end of year FIFO inventory balance?

Reference no: EM133609258

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