alleryStart learning →FIFO inventory is $5,250 and LIFO inventory $4,500. LIFO reserve?
A$9,750
B$5,250
C$4,500
D$750
Answer & Solution
Correct answer: D. $750
The LIFO reserve is the FIFO value minus the LIFO value, 5,250 minus 4,500, which is 750.
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