Final answer:
The difference between Lifo Liquidation and Lifo No Liquidation is called Lifo Reserve.
Step-by-step explanation:
If Lifo Liquidation is less than Lifo No Liquidation, the difference is called "Lifo Reserve."
The Lifo Reserve represents the additional inventory that would've been needed to maintain the company's inventory levels if the Lifo Liquidation had not occurred.
It is used to adjust the financial statements to account for the effects of the Lifo Liquidation.