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The following table contains inventory and cost of goods sold data for Amerada Hess, a...

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Accounting

The following table contains inventory and cost of goods sold data for Amerada Hess, a major oil producer and refiner. The firm uses the FIFO method. Inventories at year end ($ in millions)

2008 2009

Crude Oil 299 250

Refined and other finished products 436 583

735 833

Cost of products sold 4,287 4,450

Calculate Ameradas current cost of goods sold assuming that U.S. Commerce Department statistics indicate prices of oil products increased by 10% during 2009.

A. $4,360.50. B. $4,370.30. C. $4,523.50. D. $4,533.30

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