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ABC Corporation uses the LIFO method for inventory valuation. The following information is available: Ending inventory at FIFO cost: $150,000 Ending inventory at LIFO cost:

ABC Corporation uses the LIFO method for inventory valuation. The following information is available:
- Ending inventory at FIFO cost: $150,000
- Ending inventory at LIFO cost: $120,000 Calculate the LIFO reserve for ABC Corp.

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