QV-TV,Inc.provided the following items in its notes to the financial statements for the year-end 2019: Cost of goods sold was $22 billion under FIFO costing and the inventory value under FIFO costing was $2.1 billion.The LIFO Reserve for year-end 2018 was $0.6 billion and at year-end 2019 it had increased to $0.8 billion.
-What is the LIFO inventory value at year-end 2019?
A)$1.9 billion.
B)$2.9 billion.
C)$2.3 billion.
D)$1.3 billion.

Question

QV-TV,Inc.provided the following items in its notes to the financial statements for the year-end 2019: Cost of goods sold was $22 billion under FIFO costing and the inventory value under FIFO costing was $2.1 billion.The LIFO Reserve for year-end 2018 was $0.6 billion and at year-end 2019 it had increased to $0.8 billion. 
-What is the LIFO inventory value at year-end 2019?
A)$1.9 billion.
B)$2.9 billion.
C)$2.3 billion.
D)$1.3 billion.

Quizplus · Accepted Answer

The Answer of QV-TV,Inc.provided the following items in its notes to the financial statements for the year-end 2019: Cost of goods sold was $22 billion under FIFO costing and the inventory value under FIFO costing was $2.1 billion.The LIFO Reserve for year-end 2018 was $0.6 billion and at year-end 2019 it had increased to $0.8 billion. 
-What is the LIFO inventory value at year-end 2019?
A)$1.9 billion.
B)$2.9 billion.
C)$2.3 billion.
D)$1.3 billion.

QV-TV,IncProvided the Following Items in Its Notes to the Financial