In 2007, Terry Inc. provided the following items in their footnotes. Their cost of goods sold was $22 billion under FIFO costing and their inventory value under FIFO costing was $2.1 billion. Their LIFO Reserve account balance for year end 2006 had a $0.6 billion credit balance and then at year end 2007, it had a credit balance of $0.8 billion. How much would they report as LIFO cost of goods sold? a. $1.9 billion.
b. $2.9 billion.
c. $2.3 billion.
d. $1.3 billion.

$22.2 billion

Explanation:

Calculation to determine How much would they report as LIFO cost of goods sold

Cost of goods sold=$22 billion + ($0.8 billion ­ $0.6 billion)

Cost of goods sold=$22 billion + $0.2 billion

Cost of goods sold= $22.2 billion

Therefore How much would they report as LIFO cost of goods sold would be $22.2 billion

a) the medical information

since 1913, the medical knowledge has vastly changed.   medical terms that are today common-knowledge (dna, chemotherapy, etc.) were not even in existence in 1913.

hope this

answer; i believe the correct answer is (business necessity defense;