The Lorry Supply Company uses LIFO inventory valuation. Lorry Supply had a cost of goods sold of $1 million for the period. The inventory at the beginning of the period was $0.5 million and the inventory at the end of the period was $0.6. Lorry Supply's LIFO reserve was $0.1 million for the previous year and $0.2 for the current year. What is Lorry Supply's cost of goods sold according to FIFO inventory valuation?

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[单选题]Which principle requires that cost of goods sold is recognized in the same