1.背景导入

LIFO reserve作为CFA二级的重要内容，长久以来就是考察Inventory时的重点，自今年以来又有想一级演变的趋势，2016年CFA一级考纲已经明确规定将CFA二级的Inventory内容全面挪至一级。由此，LIFO reserve在CFA一级中的重要性不言而喻。

2.相关知识点

2.1.LIFO reserve

l  The difference between the reported LIFO inventory carrying amount andthe inventory amount that would have been reported if the FIFO method had beenused.

l  LIFO reserve = FIFO inventory – LIFO inventory

2.2.LIFO to FIFO Conversion

l  INVF = INVL + LIFO reserve

l  COGSF = COGSL - △ LIFO reserve

l  B/S:



考题例子：

An analyst is evaluating the balance sheet of a US company that uses lastin, first out (LIFO) accounting for inventory. The analyst collects thefollowing data:


After adjusting the amounts to convert to the first in, first out (FIFO)method, inventory at 31 December 2006 would be closest to:

A. $600,000.

B. $620,000.

C. $670,000.


C is correct.

To convert LIFO inventory to FIFO inventory, the entire LIFO reserve mustbe added back: $600,000 + $70,000 = $670,000.

来自：金程CFA