What is the nature of the SEC guidance concerning the reporting of LIFO liquidations?

1. Due to rising fuel costs, your client, Overstock.com, is considering adding a charge for shipping and handling costs on products sold through its website. What is the authoritative guidance for reporting these costs?

2. What guidance does the Codification provide concerning reporting inventories above cost?

3. What is the nature of the SEC guidance concerning the reporting of LIFO liquidations?

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