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WalkerCo reported cost of goods sold of $1,934. Inventory at the beginning of the year was $394 and at the end of the year, $582.
WalkerCo reported cost of goods sold of $1,934. Inventory at the beginning of the year was $394 and at the end of the year, $582. The LIFO reserve at the beginning of the year was $101 and at the end of the year $105. If the company had used the FIFO inventory costing method, what would the company have reported as inventory on its end-of-year balance sheet?
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