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HG Inc. provided the following items in its notes to the financial statements for the year-end 2016: Cost of goods sold was $22 billion under FIFO costing, and the inventory value under FIFO was $2.1 billion. The LIFO Reserve for year-end 2015 was $0.6 billion, and by year-end 2016 it had increased to $0.8 billion.
How much is the 2016 LIFO cost of goods sold?
A) $22.2 billion
B) $19.8 billion
C) $22.8 billion
D) $19.2 billion
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