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Montana Co. has determined its year-end inventory on a FIFO basis to be $649,000. Information pertaining to that inventory is as follows: Selling price $
Montana Co. has determined its year-end inventory on a FIFO basis to be $649,000. Information pertaining to that inventory is as follows:
| Selling price | $ | 620,000 | |
| Costs to sell | 33,000 | ||
| Replacement cost | 567,000 | ||
What should be the reported value of Montanas inventory?
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Dare To Be Different An Auditors Personal Guide To Excellence
Authors: Daniel Clark
1st Edition
1490772405, 978-1490772400
