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The Minx Company uses LIFO method for most of the inventories. For the year of 2016, Minx reported a cost of goods sold or $100,000

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The Minx Company uses LIFO method for most of the inventories. For the year of 2016, Minx reported a cost of goods sold or $100,000 and the LIFO rosorve of $25.000. The LIFO reserve decreased by $3,000 for the year. An estimate of the cost of goods sold under FIFO for 2016 is Select one A $70.000 B. $103,000 C. None of other choices . D. $97.000 E $125.000 - F $130.000 G. $75,000

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