The Following Information Comes from the 2011 American Greetings Corporation

Essay

The following information comes from the 2011 American Greetings Corporation (AG) Corporation annual report to shareholders:
Inventories included the following ($ in thousands): Inventories are valued at the lower of cost or market, with cost being determined by the LIFO method for 80% of inventories. The cost of all other inventories is determined primarily by the FIFO method. AG's cost of goods sold for 2011 was $682,368 thousand.
Required:
If AG used only FIFO for all of its inventories instead of its current policy, what would its cost of goods sold have been for 2011?