What does effect of LIFO inventory liquidation on cost of goods sold mean?

Name: LyondellBasell Industries N.V. Effect of LIFO Inventory Liquidation on Cost of Goods Sold — Quarterly & Annual Data
Creator: OpenCapital
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Accepted Answer

The impact on cost of goods sold resulting from the reduction of inventory quantities valued under the Last-In, First-Out (LIFO) method. When older, lower-cost inventory layers are sold, it can artificially inflate current period margins.

Effect of LIFO Inventory Liquidation on Cost of Goods Sold at other companies

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LyondellBasell Industries N.V. LYB Effect of LIFO Inventory Liquidation on Cost of Goods Sold