A company has determined its year-end inventory on a FIFO basis to be $500,000. Information pertaining to that inventory is as follows: $ 520,000 Selling price Costs to sell 30,000 440,000 Replacement cost What should be the reported value of inventory? Multiple Choice O O $490,000. $440,000.

A company has determined its year-end inventory on a FIFO basis to be $500,000. Information pertaining to that inventory is as follows: What should be the reported value of inventory? Multipie Choice $490,000. $440,000