A company determined the following values for its inventory as of the end of the fiscal year: Historical cost $300,000 Current replacement cost 280,000 Selling price 308,000 Normal profit margin 13,000 Cost to sell 10,000 What amount should the company report as inventory on its year-end balance sheet under the following cost methods? Last-in, first-out (LIFO) First-in, first-out (FIFO) Last-in, first-out (LIFO) $298,000 First-in, first-out (FIFO) $300,000 Last-in, first-out (LIFO) $280,000 First-in, first-out (FIFO) $298,000 Last-in, first-out (LIFO) $285,000 First-in, first-out (FIFO) $298,000 Last-in, first-out (LIFO) $285,000 First-in, first-out (FIFO) $285,000