Consider the following data Ending inventory at cost — $115,000 Ending inventory at replacement cost —– $119,000 Cost of goods sold (before

Consider the following data

Ending inventory at cost — $115,000

Ending inventory at replacement cost —– $119,000

Cost of goods sold (before consideration of LCM rule) — $165,000  

Which of the following depicts the proper account balance after the application of the LCM rule?

A. Ending inventory balance will be $119,000

B. Ending inventory balance will be $115,000

C. Costs of goods sold will be $161,000

D. Cost of goods sold will be $169,000

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