LIFO Reserve & LIFO Liquidation Explained | CFA Level 1

Inventory Valuation Methods: Specific Identification, FIFO, LIFO & Weighted Average

The LIFO Inventory Reserve The Midwestern Manufacturing Company uses the LIFO inventory costing method to value its ending inventory. The following data were obtained from the company's accounting records: Calculate the company's (a) LIFO inventory reserve and (b) current ratio assuming (i) FIFO and (ii) LIFO. If the company's LIFO gross profit was 18,000,000 and the change in the LIFO inventory reserve was 3,000,000, calculate the company's gross profit under FIFO. | Numerade

FIFO vs LIFO

FIFO vs LIFO | Which is the Best Inventory Valuation Method?

FIFO (First In, First Out) và LIFO ( Last In, First Out) - VILAS