Davidson Company reports using LIFO inventory costing. The following information is taken from their inventory footnote. All numbers are in thousands.

	2022		2021
Raw materials	$	26,245	$	28,283
Work-in-process	20,155		19,169
Finished goods	70,348		84,020
Total	116,748		131,472
Adjust to LIFO cost	(22,693)		(41,697)
Lower of cost or market adjustment
Inventory	$	94,055	$	89,775

Had Davidson Corporation reported under FIFO inventory costing, their reported cost of sales in 2022 would have been:

a. Higher by $19,004

b. Higher by $22,693

c. Lower by $19,004

d. Lower by $22.693

e. None of the above.