Lupin Companys 2020 balance sheet reveals that inventories reported on a LIFO basis are $25,000,000. In a footnote, management stated that the LIFO reserve was $3,500,000 and had increased $500,000 from last year. COGS under LIFO costing was $12,000,000 for 2020. How much would Lupins ending inventory be using FIFO? 28,500,000 29,000,000 25,000,000 12,000,000

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