LIFO , FIFO and reserve

CFA Level II
#1

if there are positive LIFO reserve, then it is a price increase environment, we need to use FIFO adjust balance sheet and income statement. if there are FIFO reserve, then it is a price decrease environment, then we use LIFO to adjust? this is earning quality topic, anybody shed some light on this? Thanks,

#2

really, FIFO reserve?

#3

hw, I’m not even going to answer your questions because I think it’d be wasting your time and my time, but in the holiday spirit, I will say best of luck to you.

#4

hw0799 Wrote: ------------------------------------------------------- > if there are positive LIFO reserve, then it is a > price increase environment, we need to use FIFO > adjust balance sheet and income statement. > > if there are FIFO reserve, then it is a price > decrease environment, then we use LIFO to adjust? > > > this is earning quality topic, anybody shed some > light on this? Thanks, FIFO reserve whoa guy easy …step away from the boooks buddy go for a walk n take a look at wat u asking

#5

dcbreber Wrote: ------------------------------------------------------- > really, FIFO reserve? HAHA! This is exactly what I said out loud when I read the post!