Assume that Fey Company reports the following initial balance and subsequent purchase of inventory. Inventory balance at beginning of year Inventory purchased during the year 1,200 units @ $60 each $ 72,000 1,800 units @ $90 each 162,000 $234,000 Cost of goods available for sale during the year 3,000 units 4. Assume that 1,900 units are sold during the year. What amount is reported for cost of goods sold using the LIFO method? a. $ 99,000 b. $ 66,000 C. $135,000 d. $168,000

4. Assume that Fey Company reports the following initial balance and subsequent purchase of inventory. Inventory balance at beginning of year 1,200 units @ $60 each $72,000 Inventory purchased during the year 1,800 units @ $90 each 162,000 Cost of goods available for sale during the year 3,000 units $234,000 Assume that 1,900 units are sold during the year. What amount is reported for cost of goods sold using the LIFO method? a. $99,000 b. $66,000 c. $135,000 d. $168,000