An Increase in the LIFO Reserve Is Recorded as ________

question 126

Multiple Choice

An increase in the LIFO reserve is recorded as ________.

• A) a credit to Cost of Goods Sold
• B) a debit to Cost of Goods Sold
• C) debit to the LIFO Reserve
• D) credit to the Inventory account

---

Definitions:

High Achievers

Individuals who consistently perform at a higher level of capability or achievement compared to their peers.

Compliant Daughters

Describes the behavior of girls or young women who adhere strictly to the expectations, demands, or wishes of their parents or guardians, often at the cost of their own desires or autonomy.

Depressive Subtype

A categorization of depression that highlights specific characteristics or symptoms that may dominate the clinical picture, for instance, melancholic or atypical features.

Major Depression

A mental disorder characterized by persistent sadness, loss of interest in activities, and a range of physical and cognitive symptoms, significantly affecting daily life.