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Kryger [21]
3 years ago
10

Scarcity occurs when supply exceeds demand. True of False

Business
1 answer:
kakasveta [241]3 years ago
5 0

Answer:

false

Explanation:

demand must be greater than supply

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the cumulative difference between reporting inventory at lifo rather than fifo is commonly referred to as the
UkoKoshka [18]

The cumulative difference between reporting inventory at LIFO rather than FIFO is commonly referred to as the LIFO reserve

<h3>What is LIFO reserve?</h3>

Generally, LIFO reserve is an accounting term that represents the difference between the cost of inventory calculated using the first-in, first-out (FIFO) method and the cost calculated using the last-in, first-out (LIFO) method for the purposes of bookkeeping.

In conclusion, The LIFO reserve is a term that is widely used to refer to the accumulated discrepancy that results from reporting inventory using the LIFO method rather than the FIFO method.

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at brainly.com/question/28146683

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