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Suppose that Crane, Inc. reported ending inventory at December 31, 2025 of $1176000 under LIFO. It also reported a LIFO reserve of $206000 at January

image text in transcribed Suppose that Crane, Inc. reported ending inventory at December 31, 2025 of $1176000 under LIFO. It also reported a LIFO reserve of $206000 at January 1,2025 , and $294000 at December 31, 2025. Cost of goods sold for 2025 was $4802000. If Crane had used FIFO during 2025, its cost of goods sold for 2025 would have been $4890000. $4714000. $5096000. $4508000

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