Typically, the impact of the LIFO reserve is to decrease cost of goods sold and decrease ending inventory increase cost of goods sold and increase ending inventory increase cost of goods sold and decrease ending inventory have no effect on cost of goods

Auditing: A Risk Based-Approach (MindTap Course List)
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Chapter11: Auditing Inventory, Goods And Services, And Accounts Payable: The Acquisition And Payment Cycle
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Typically, the impact of the LIFO reserve is to
decrease cost of goods sold and decrease ending inventory
increase cost of goods sold and increase ending inventory
increase cost of goods sold and decrease ending inventory
have no effect on cost of goods sold and ending inventory
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