medium · CFA Level I Financial Statement Analysis
Helion Rail reports cost of goods sold (COGS) of $410 million under the LIFO method.
If the LIFO reserve was 45 million at the beginning of the year and 62 million at the end of the year, the FIFO COGS is closest to:
- 397.25 million
- 393 million
- 427 million
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