QV-TV, Inc

question 16

Multiple Choice

QV-TV, Inc. provided the following items in its notes to the financial statements for the year-end 2014: Cost of goods sold was $22 billion under FIFO costing and the inventory value under FIFO costing was $2.1 billion. The LIFO Reserve for year-end 2014 was $0.6 billion and at year-end 2014 it had increased to $0.8 billion. How much is the 2014 LIFO cost of goods sold?

• A) $22.2 billion.
• B) $19.8 billion.
• C)$22.8 billion.
• D)$19.2 billion.

---

Definitions:

Database Server

A server that provides database services to other computer programs or computers, as defined by the client-server model.

Availability

The state of being able to be used or obtained.

Cloud Technologies

A collection of IT resources and services that are accessed through the internet, offering scalable and flexible computing capabilities.

SELECT

A SQL command used to retrieve data from a database.