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Montana Co. has determined its year-end inventory on a FIFO basis to be $616,000. Information pertaining to that inventory is as follows: Selling price $630,000
Montana Co. has determined its year-end inventory on a FIFO basis to be $616,000. Information pertaining to that inventory is as follows: Selling price $630,000 Disposal costs 39,000 Normal profit margin 78,000 Replacement cost 533,000 What should be the carrying value of Montana's inventory? $591,000. $533,000. $513,000. $616,000
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