The question is to covert LIFO to FIFO, but I thought you can only use
FIFO inventory=LIFO Inventory+LIFO reserve
for the part of inventory that used LIFO method, which would be finished goods. The other inventories are valued at “average-cost” basis.,
So for this question, why would you convert to FIFO using the whole inventory 608,572 instead of the LIFO part 94,578?