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What is a LIFO reserve? Group of answer choices the difference between the LIFO inventory and the amount used for internal reporting purposes the tax

What is a LIFO reserve?

Group of answer choices

the difference between the LIFO inventory and the amount used for internal reporting purposes

the tax savings attributed to using the LIFO method

the current effect of using LIFO on net income

change in the LIFO inventory during the year

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