Mnemonic for COGSFIFO=COGSLIFO-change in LIFO reserve?

ldiamond · June 5, 2008, 5:54pm

still cant remember this during my practices. anybody got a mnemonic?

meazza · June 5, 2008, 5:55pm

Well, COGS Fifo should be smaller than COGS Lifo… So it would be COGS LIFO Minus

mcf · June 5, 2008, 5:55pm

Nope. Just drilled it over and over and over again. Change in the reserve… usually and increase… so FIFO COGS will be that much lower. Over and over and over again.