Love these videos! Subbed!

Very good! Thank you very much!

saved me for sure!

Thanks Indeed

I am a bit confused because the tax paid is same on the income statement under both FIOF and LIFO. Assuming constant tax rate, shouldn't the FIFO tax number be higher on the income statement? I think this is preventing me from reconciling the income statement to the retained earnings portion of the balance sheet pls advise! Otherwise, great video, helped tie together the concept very well!

The adjusted balance sheet wouldn't balance..?

Thanks for this video! But around 4:20, when calculating the new reduced COGS under FIFO, should Pre-Tax Income increase by +134, but Net Income increase by 134*(1-Tax Rate)??

The CFA institute books working for cash balance and retained earnings are different and also produce different answer. If I follow the way this video is showing than do the blue box maths the answers don’t match it’s so confusing.

👍👍🙏🙏🇮🇳🇮🇳

Thank you for this video, but how do I figure out how much the LIFO reserve is?