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Johnson Inc. uses LIFO and has experienced increasing costs since its founding. Johnson disclosed that the LIFO reserve (also known as the LIFO allowance) at

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Johnson Inc. uses LIFO and has experienced increasing costs since its founding. Johnson disclosed that the LIFO reserve (also known as the LIFO allowance) at the end of 2021 was $3 million. The balance sheet showed ending inventory of $17 million at the end of 2021. What would the ending inventory have been if Johnson had always used FIFO? Multiple Choice $20 million $17mon S14 milion None of the correct

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