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Calculate the value of COGS LIFO for Watford

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Question - Watford Inc. reported FIFO ending inventory of $120,000 and FIFO beginning inventory of $108,000 for 2018. Inventory purchases for 2018 were $154,500 and the change in the LIFO reserve from 2017 was a decrease of $425. Calculate the value of COGS LIFO for Watford in 2018.

A. $142,925

B. $142,075

C. $154,500

D. $154,125

E. $166,500

Reference no: EM132487017

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