btcapital

Cinderella Wrote:
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> This was covered extensively in the inventories
> chapter for last year but this year it isn't in
> the inventories reading at all. Instead there's
> just an example on it in a later reading. I really
> don't think you need to know it in too much
> detail.
>
> FYI: As far as I can recall, if prices are falling
> the change in LIFO reserve in negative.

I am not sure if I need to worry about this one but definitely if schweser mock or Q bank cover this I won't overlook this either. There are many questions on Qbank and mock. I have seen with price rising and price declining as well. But not sure how to treat them.