LIFO Reserve
The difference between the cost of inventory valued under LIFO (Last-In, First-Out) and what it would be valued at under another method, such as FIFO. It represents the accumulated inflation or deflation effect on inventory costs.
The difference between the cost of inventory valued under LIFO (Last-In, First-Out) and what it would be valued at under another method, such as FIFO. It represents the accumulated inflation or deflation effect on inventory costs.