单选题 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 method? Ending Inventory COGS ①A. $170000 $ 525000 ②B. $ 230000 $ 475000 ③C. $170000 $475000

【正确答案】 B

【答案解析】
Ending inventory under FIFO is equal to INV_LIFO + LIFO_reserve= 200000 + 30000 = 230000 COGS under FIFO equals COGS_I-( LIFO_E-LIFO_B) = 500000-(30000-5000)=475000.