Inventory turnover distortion under LIFO inventory costing may be adjusted by: Multiple Choice subtracting the LIFO reserve amounts from cost of goods sold and adjusting beginning and ending inventory for pre-tax LIFO liquidation profits whenever LIFO liquidation occurs. adding the LIFO reserve amounts to beginning and ending inventory and adjusting cost of goods sold for pre-tax LIFO liquidation profits whenever LIFO liquidation occurs. adding the LIFO reserve amounts to cost of goods sold and