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A company uses FIFO for internal recordkeeping but LIFO for reporting ending inventory. Ending inventory under FIFO is $80,000, and ending Inventory under LIFO is

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A company uses FIFO for internal recordkeeping but LIFO for reporting ending inventory. Ending inventory under FIFO is $80,000, and ending Inventory under LIFO is $60,000. What is the company's LIFO reserve? Multiple Choice O $20,000 $60,000 $80,000. $140,000

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