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In its financial statements WalkerCo reported cost of goods sold of $1,834. Inventory at the beginning of the year was $355 and at the end
In its financial statements WalkerCo reported cost of goods sold of $1,834. Inventory at the beginning of the year was $355 and at the end of the year $420. In the footnotes it is reported that the LIFO reserve at the beginning of the year was $180 and at the end of the year $135. If the company had used the FIFO inventory costing method, what would the company have reported as inventory on its end-of-year balance sheet?
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