Business, 18.07.2020 19:01, nolof

All purchase/sale transactions are made on credit. The company uses the FIFO method and perpetual inventory system to record transactions. What is the amount of LIFO adjustment needed to adjust FIFO inventory records reported for the year to LIFO for external reporting purposes

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All purchase/sale transactions are made on credit. The company uses the FIFO method and perpetual in...