Assume that HP uses the LIFO inventory costing method for both tax and financial reporting purposes. The balance sheet reports inventories at $297 million. Then, in its footnotes, the company reports that inventories would have been $327 million had the company used the FIFO method. The difference between these two numbers ($30 million) is referred to as: C) Inventory temporary difference D) LIFO conformity rule A) LIFO holding gain B) LIFO reserve The January 28, 2017 (fiscal year 2016) financial statements of Caleres, Inc. reported the following information (in thousands). Cost of sales Inventories, net LIFO reserve 2016 $1,517,397 585,764 4,345 2015 $1,529,527 546,745 4,094 If Caleres had used the FIFO method of inventory costing, 2016 inventory would have been: A) $504,752 million B) $506,852 million C) $581,419 million D) $590,109 million