Butler Company Reported Ending Inventory at December 31, 2022 of $1,200,000

Multiple Choice

Butler Company reported ending inventory at December 31, 2022 of $1,200,000 under LIFO.It also reported a LIFO reserve of $210,000 at January 1, 2022, and $300,000 at December 31, 2022.Cost of goods sold for 2022 was $4,900,000.If Butler Company had used FIFO during 2022, its cost of goods sold for 2022 would have been

A) $5,200,000.
B) $4,990,000.
C) $4,810,000.
D) $4,600,000.