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Exxon Mobil XOM Inventory LIFO Reserve
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FAQ
- What does inventory LIFO reserve mean?
- This is the difference between the cost of inventory calculated using the FIFO or average cost method and the cost calculated using the LIFO method. It is used to adjust the LIFO-based inventory value to a current cost basis for analytical purposes. Investors use this to normalize earnings and inventory values when comparing companies that use different inventory accounting methods.