Accounting MCQ Accounting The disclosure that shows the difference in the cost of inventory between LIFO and FIFO is referred to as the:

The disclosure that shows the difference in the cost of inventory between LIFO and FIFO is referred to as the:

Naim 12:39 Accounting

The disclosure that shows the difference in the cost of inventory between LIFO and FIFO is referred to as the:

A) FIFO adjustment.

B) Inventory allowance.

C) LIFO reserve.

D) Net realizable value.

Answer: C

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