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Slide27 - LIFO Layers A LIFO layer is an addition to...

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Unformatted text preview: LIFO Layers - A LIFO layer is an addition to inventory at an identifiable cost level - As a company grows, the LIFO layers pile on top of one another over the years - LIFO inventory values may be far below market value or current replacement value of the inventory - While LIFO better presents the economic reality on the income statement, FIFO provides more current valuations on the balance sheet ...
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