You wish to compare Hannah Corp., a LIFO firm, to a competitor that uses the FIFO method to value inventory. The following is taken from Hannahs Inventory footnote: Merchandise Inventories Inventories are valued primarily at the lower of cost (using the last-in, first-out or "LIFO" method) or market, determined by the retail method for department stores and store distribution centers, and standard cost, representing average vendor cost, for Direct and regional warehouses. If the first-in, first-out or FIFO" method of inventory valuation had been used instead of the LIFO method, inventories would have been $134 million and $105 million higher at December 31, 2011 and December 31. 2010. respectively. Assuming that Hannah recorded Cost of Goods Sold of $2,051 million on its Income Statement for FY2011, convert Hannah's Cost of Goods Sold from a LIFO to a FIFO basis. (4 points)