The following information is available for a manufacturing company: Cost of ending inventory computed using FIFO $4.3m Net realizable value $4.1m Current replacement cost $3.8m

If the company is using International Financial Reporting Standards (IFRS) instead of US GAAP, its cost of goods sold (in millions) is most likely:

A. $0.3 higher.

B. $0.3 lower.

C. the same.