Company: Crane Co b. For the last two fiscal years, find your companys inventory balance...
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Accounting
Company: Crane Co
b. For the last two fiscal years, find your companys inventory balance under a cost flow assumption other than LIFO.
c. For the last two fiscal years, what is your companys reported LIFO reserve balance?
d. For the last two fiscal years, what is your companys inventory balance under the LIFO cost flow assumption?
e. Prepare the journal entry that your company made at the end of the latest year to adjust the LIFO reserve to its current balance.
CONSOLIDATED BALANCE SHEETS Liabilities and equity Current liabilities: See Notes to Consolidated Financial Statements CONSOLIDATED BALANCE SHEETS Liabilities and equity Current liabilities: See Notes to Consolidated Financial Statements
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