Multiple Choice
The Mick Company reported a LIFO cost of goods sold for the year of $100,000.The LIFO reserve decreased by $30,000 for the year.An estimate of the cost of goods sold under FIFO is
A) $70,000.
B) $130,000.
C) $160,000.
D) $200,000.
Correct Answer:
Verified
Correct Answer:
Verified
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