John Deere uses the LIFO inventory cost flow assumption, reporting inventories on its 2019 balance sheet of
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John Deere uses the LIFO inventory cost flow assumption, reporting inventories on its 2019 balance sheet of $5.975 billion and a LIFO reserve of approximately $ 1.670 billion. What would be Deere's 2019 inventory balance if it used the FIFO assumption instead? Why is the disclosure of the LIFO reserve useful to financial statement users?
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Lifo Reserve is important because through LIFO reserve we can i...View the full answer
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