NO.PZ2016012102000175
问题如下：
TCT company ,which uses LIFO accounting method, reported the following information:
- 20X8, end-of-year inventory balance of $1600; 20X9, end-of-year inventory balance of $2350;
- 20X8, LIFO reserve of $330; 20X9, LIFO reserve of $510;
- During 20X9, COGS of $2600.
TCT company wants to change its inventory accounting method to the FIFO method, which of the following option is least accurate?
选项：
A.
FIFO COGS is $2420.
B.
20X8, FIFO inventory is $1930.
C.
20X9, FIFO inventory is $2680.
解释：
C is correct.
FIFO Inventory= LIFO Inventory + LIFO reserve
in 20X8，FIFO inventory=1600+330=1930，B选项正确。
in 20X9 ,FIFO Inventory=2350+510=2860，C选项“2680”错误。
COGS FIFO= COGS LIFO - Δ LIFO reserve=2600-（510-330）=2420，A选项正确。
这道题让选least accurate的，选项C入选。
FIFO reserve是什么意思？
