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The independent living model of intervention differs from traditional intervention approaches in that
LIFO Reserve
A contra-asset for the excess of FIFO over LIFO inventory.
FIFO Costing
An inventory valuation method stating that the oldest inventory items are sold first, with costs of the oldest items being used to calculate profit.
Ending Inventory
The value of goods available for sale at the end of an accounting period.
LIFO Reserve
The difference between the cost of inventory calculated using the Last-In, First-Out method and the First-In, First-Out method.
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