The LIFO reserve is - value under average cost. the...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
The LIFO reserve is: an amount used to adjust inventory to the lower of cost or market. an amount used to adjust inventory to historical cost. the difference between the value of the inventory under LIFO and the
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: value under average cost. the difference between the value of the inventory under LIFO and the value under FIFO....
View Full Document

Ask a homework question - tutors are online