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LIFO reserve

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

Usually the difference between the cost of inventory at LIFO versus the cost of inventory at FIFO.

Dictionary

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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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