QV-TV, Inc. provided the following items in its notes to the financial statements for the year-end 2014: 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 2014 was $0.6 billion and at year-end 2014 it had increased to $0.8 billion. How much is the 2014 LIFO cost of goods sold?
A) $22.2 billion.
B) $19.8 billion.
C)$22.8 billion.
D)$19.2 billion.

Question

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The Answer of QV-TV, Inc. provided the following items in its notes to the financial statements for the year-end 2014: 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 2014 was $0.6 billion and at year-end 2014 it had increased to $0.8 billion. How much is the 2014 LIFO cost of goods sold?
A) $22.2 billion.
B) $19.8 billion.
C)$22.8 billion.
D)$19.2 billion.