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What should be the carrying value of montanas inventory

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Question - Montana Co. has determined its year-end inventory on a FIFO basis to be $606,000. Information pertaining to that inventory is as follows:

Selling price $620,000

Disposal costs 33,000

Normal profit margin 72,000

Replacement cost 528,000

What should be the carrying value of Montana's inventory?

Reference no: EM131786951

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