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107 . Inventory turnover distortion under LIFO inventory costing may be adjusted byA . adding the LIFO reserve amounts to cost of goods sold and

image text in transcribed 107 . Inventory turnover distortion under LIFO inventory costing may be adjusted byA . adding the LIFO reserve amounts to cost of goods sold and adjusting beginning and endinginventory for LIFO liquidation profits whenever LIFO dipping occursB . subtracting the LIFO reserve amounts from cost of goods sold and adjusting beginning andending inventory for LIFO liquidation profits whenever LIFO dipping occursC . adding I he LIFO reserve amounts to beginning and ending inventory and adjusting cost ofgoods sold for LIFO liquidation profits whenever LIFO dippingin occurstracting the LD . subtracting the LIFO reserve amounts from beginning and ending inventory and adjustingcost of goods sold for LIFO liquidation profits whenever LIFO dipping occurs

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