A company has determined its year-end inventory on a FIFO basis to be $600,000. Information pertaining to that inventory is as follows:

Selling price	$ 610,000
Costs to sell	39,000
Replacement cost	550,000

What should be the reported amount of the company's inventory?

Multiple Choice

$595,000.

$610,000.

$550,000.

$571,000.