Assume that Quinn Jewelry Co. uses the LIFO inventory costing method for both tax and financial reporting purposes. The balance sheet reports inventories at $102 million. Then, in its footnotes, the company reports that inventories would have been $133 million had the company used the FIFO method. The difference between these two numbers ($31 million) is referred to as:
a. LIFO reserve
b. LIFO conformity rule
c. LIFO holding gain
d. Inventory temporary difference
e. none of the above