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Home > Business & Careers > Accounting   »   Inventory valuation

 
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Old Nov 2, 2006, 03:40 PM
loriannlesley
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Inventory valuation

If you're presented with the inventory footnote for a company that uses LIFO valuation - so you are shown the FIFO valuation less the LIFO reserve, then you are given an additional information as to the COGS, do you assume that this figure is the LIFO or FIFO COGS?

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