U.S.disclosure rules require that a LIFO firm must disclose ending inventory either at its current cost or on a FIFO cost-flow basis.

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The statement is true. According to U.S. disclosure rules, LIFO firms must disclose ending inventory on a FIFO cost-flow basis if they use LIFO as their primary inventory valuation method. This is done to provide investors with a clearer understanding of the company's financial position and profitability.

USDisclosure Rules Require That a LIFO Firm Must Disclose Ending