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Problem 2: m erson Company uses the FIFO method for internal reporting purposes and LIFO for external reports purposes. The balance in the LIFO Reserve

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Problem 2: m erson Company uses the FIFO method for internal reporting purposes and LIFO for external reports purposes. The balance in the LIFO Reserve account at the end of 2016 was $120,000. The balance in the same account at the end of 2017 is $180,000. Anderson's Cost of Goods Sold account has a balance of $900,000 from ales transactions recorded during the year. What amount should Anderson report as Cost of Goods Sold in the 017 income statement

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