LIFO LIQUIDATION Definition

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LIFO LIQUIDATION is a reduction in the reported value of inventory below levels established in prior years under the LIFO method; arises when purchases for the period are not sufficient to offset the sale of inventory in the period.

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OFFSOURCE, slang, is to outsource to an offshore location to primarily save on the cost of labor. See OUTSOURCE.

REPRODUCTION COST LESS DEPRECIATION (RCLD) is a technique for valuing electric distribution assets.

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