Wildhorse Company uses the FIFO method to cost its inventory. At December 31, 2025, prior to adjustment, the Finished Goods inventory balance was $37000 and the Cost of Goods Sold balance was $97500. The expected selling price was $44600. The company incurs selling costs of 25% of the expected selling price, if Wildhorse uses the cost of goods sold method to record write-downs of inventory, its 2025 financial statements will report Balance Sheet Income Statement Inventory $37000 Cost of Goods Sold \$101050 Inventory $37000 Cost of Goods Sold $97500 Inventory $44600 Cost of Goods Sold $108650 Inventory $37000 Cost of Goods Sold \$101050 Inventory $37000 Cost of Goods Sold $97500 Imventory $44600 Cost of Goods Sold \$108650