Perfect Catering Company's ending inventory was $103,700 at historical cost and $116,500 at current replacement cost. The company uses LIFO. Before consideration of the lower - of - cost - or - market rule, the company's cost of goods sold was $58,000. Following U.S. GAAP, which of the following statements reflect the correct application of the lower - of - cost-or- market rule? O A. The Ending Inventory balance will be $116,500, and Cost of Goods Sold will be $70,800. O B. The Ending Inventory balance will be $103,700, and Cost of Goods Sold will be $58,000. OC. The Ending Inventory balance will be $116,500, and Cost of Goods Sold will be $58,000. OD. The Ending Inventory balance will be $116,500, and Cost of Goods Sold will be $45,200