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35. Rubin Inc. uses the FIFO and lower of cost market methods to account for its inventory. Information regarding inventories is as follows. Product Cost
35. Rubin Inc. uses the FIFO and lower of cost market methods to account for its inventory. Information regarding inventories is as follows.
| Product | Cost |
| Market |
| X | $1,200 |
| $1,400 |
| Y | 900 |
| 600 |
| Z | 1,900 |
| 1,700 |
| Total | $4,000 |
| $3,700 |
Rubin Inc.'s ending inventory will be valued at:
- $3,500
- $3,700
- $4,000
- $4,200
- none of these
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