​Useful Inventory Formulas ​Inventory(FIFO Method) = Inventory(LIFO Method) + LIFO Reserve                                COGS(FIFO Method) = COGS(LIFO Method) - Increase LIFO Reserve                                NI(FIFO) = NI(LIFO) + Increase in Lifo Reserve x (1 - Tax Rate)                                       […]

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