Question 18 0.5 pts All of the following statements are true regarding the LIFO reserve except: Current ratios and the inventory turnover can be significantly affected if a company has a large LIFO reserves. None of these Companies using LIFO are required to report the LIFO reserve. To adjust LIFO inventory to FIFO inventory requires subtracting the LIFO reserve from LIFO inventory. The LIFO reserve normally increases the longer a company uses LIFO. Previous Next here to search E FG FB F10 & 8 ERT U o P. DFG H J K K L