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Use the following information for Concord Corporation, Tamarisk, Inc., Danforth Industries, and Evans Services to answer the question What is Danforth's LIFO reserve for 2017?

Use the following information for Concord Corporation, Tamarisk, Inc., Danforth Industries, and Evans Services to answer the question What is Danforth's LIFO reserve for 2017?

(amounts in $ millions)

Concord

Tamarisk

Danforth

Evans

Inventory Method for 2016 & 2017

LIFO

FIFO

LIFO

FIFO

2016 Ending inventory assuming LIFO

$334 0 $232 0

2016 Ending inventory assuming FIFO

$433 $543 $301 $658

2017 Ending inventory assuming LIFO

$425 0 $158 0

2017 Ending inventory assuming FIFO

$577 $614 $222 $540

2016 Current assets (reported on balance sheet)

$1687 $2044 $1305 $2753

2016 Current liabilities

$992 $1212 $533 $1209

2017 Current assets (reported on balance sheet)

$2237 $2612 $1091 $2392

2017 Current liabilities

$1298 $1423 $458 $1013

2017 Cost of goods sold

$4679 $5038 $2994 $6997

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