问题
单项选择题
The Baker Company uses the LIFO inventory valuation method and reported its inventory at $ 200000 and its COGS at $ 500000. The company’ s LIFO reserve increased from $ 5000 to $ 30000 during the year. What amounts would the company report if it were to use the FIFO methodEnding Inventory COGS（）
①A. $170000 $ 525000
②B. $ 230000 $ 475000
③C. $170000 $475000
答案
参考答案：B
解析：
Ending inventory under FIFO is equal to INVLIFO + LIFOreserve= 200000 + 30000 = 230000 COGS under FIFO equals COGSI-( LIFOE-LIFOB) = 500000-(30000-5000)=475000.