Accounting MCQ Accounting The cumulative difference between reporting inventory at LIFO rather than FIFO is commonly referred as the _______________.

The cumulative difference between reporting inventory at LIFO rather than FIFO is commonly referred as the _______________.

Naim 01:07 Accounting

The cumulative difference between reporting inventory at LIFO rather than FIFO is commonly referred as the _______________.

Answer: LIFO reserve

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