can someone please verify the following. Under FIGO inventory is higher and COGS lower, however when the change in Lifo Reserve is negative over the year FIFO inventory is lower and COGS is higher. is this correct?

I believe a negative change in the lifo reserve would indicate that you have either a declining price environment or an inventory liquidation scenario on your hands. In that period, I believe you are correct.

both of you are right. mambovipi make sure you know the analyst adjustments to inventory and COGS in the case of LIFO liquidation.

Perfect thanks