Business, 11.03.2020 02:54 19jcormier

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:

Multiple Choice

$70,000.

$160,000.

$200,000.

$130,000.

Answers: 3

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The Mick Company reported a LIFO cost of goods sold for the year of $100,000. The LIFO reserve decre...