My sense is that LIFO actually is, since it shows COGS based on the most current purchases. LIFO Reserves is  the amount by which a company’s inventory account balance calculated under FIFO would exceed its inventory account balance calculated under LIFO for the same physical inventory. The Ending LIFO Reserve represents the cumulative effect of…

(119) The company’s gross profit margin was negatively impacted by rising production costs. A good gross profit margin typically ranges from 20% to 40%, varying by industry. Comparing within the same industry provides a more accurate assessment of what constitutes a healthy margin. Focusing solely on one type of margin can lead to a skewed…

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