August 19, 2008
How can I determine the difference in earnings from using LIFO instead of FIFO?
The difference in a corporation’s earnings from using LIFO instead of FIFO can be determined by the amounts reported in the balance sheet account LIFO Reserve. Generally, the LIFO Reserve information is found in the notes to the financial statements.
Learn more about Inventory and Cost of Goods Sold.
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Thank you so much, as student of SCHOOL of finance you helped me so much.
THANKS