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Montana Co. has determined its year-end inventory on a FIFO basis to be $647,000. Information pertaining to that inventory is as follows: Selling price Costs

Montana Co. has determined its year-end inventory on a FIFO basis to be $647,000. Information pertaining to that inventory is as follows: Selling price Costs to sell Replacement cost $620,000 30,000 559,000 What should be the reported value of Montana's inventory? Multiple Choice $604,000. $590,000. $620,000. $559,000

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