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The LIFO effect is ______. A. the change from the LIFO inventory value to the FIFO inventory value B. the difference between the ending inventory
The LIFO effect is ______. A. the change from the LIFO inventory value to the FIFO inventory value B. the difference between the ending inventory measured using LIFO and FIFO C. the change in the LIFO reserve account during the year and the impact on cost of goods sold D. none of the above
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