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What should be the reported value of Montana inventory

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Reference no: EM132953469

Question - Montana Co. has determined its year-end inventory on a FIFO basis to be $639,000. Information pertaining to that inventory is as follows:

Selling price $620,000

Costs to sell 32,000

Replacement cost 552,000

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

Reference no: EM132953469

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