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Madison Co has determined its year-end inventory on a LIFO basis to be $615,000, Information pertaining to that inventory is as follows Selling price Costs
Madison Co has determined its year-end inventory on a LIFO basis to be $615,000, Information pertaining to that inventory is as follows Selling price Costs to sell Normal profit margin Replacement cost $735,000 37,400 87,500 635,000 What should be the reported value of Madison's inventory? Multiple Choice 5615.000 5635000
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