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    Intermediate Accounting Study Set 9
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    Exam 8: Valuation of Inventories: a Cost-Basis Approach
  5. Question
    The Change in the LIFO Reserve from One Period to the Next
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The Change in the LIFO Reserve from One Period to the Next

Question 44

Question 44

True/False

The change in the LIFO Reserve from one period to the next is recorded as an adjustment to Cost of Goods Sold.

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