Chris deals in drone of the same make and model. At the commencement of the year he held 1,000 units purchased for $100 each. he sells each unit for $200. His sales in the year amounted to $300,000. He purchased 1,000 units for $120 each during the year. Ascertain the cost of goods sold on each cost flow assumption. a. FIFO = $60,000; LIFO = $50,000 b. FIFO = $165,000; LIFO = $165,000 c. FIFO = $160,000; LIFO = $170,000 d. FIFO = $170,000; LIFO = $160,000