LIFO RESERVE Definition

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LIFO RESERVE is the difference between the ending inventory under LIFO and FIFO (or other method that might be chosen).

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NON-PERFORMING ASSET is an asset not effectual in the production of income. For example, in banking, commercial loans 90 days past due and consumer loans 180 days past due are classified as non-performing.

TAFR is Treasurer's Annual Financial Report.

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