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)

A.

$285,000

$285,000

B.

$285,000

$298,000

C.

$280,000

$298,000

D.

$298,000

$300,000