Alex Corporation uses the FIFO method for internal reporting purposes and LIFOfor external reporting purposes. The balance in the LIFO Reserve account at theend of 2010 was $60,000. The balance in the same account at the end of 2011 is$90,000. Alexs Cost of Goods Sold account has a balance of $450,000 from salestransactions recorded during the year. What amount should Alex report as Cost ofGoods Sold in the 2011 income statement?a. $420,000.b. $450,000.c. $480,000.d. $540,000.