HG Inc. provided the following items in its notes to the financial statements for the year-end 2016: Cost of goods sold was $22 billion under FIFO costing and the inventory value under FIFO was $2.1 billion. The LIFO Reserve for year-end 2015 was $0.6 billion and by year-end 2016 it had increased to $0.8 billion. How much is the 2016 LIFO cost of goods sold? A) $22.2 billion B) $19.8 billion C) $22.8 billion D) $19.2 billion
HG Inc. provided the following items in its notes to the financial
