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Montana Co. has determined its year-end inventory on a FIFO basis to be $646,000. Information pertaining to that inventory is as follows: Selling price $600,000

Montana Co. has determined its year-end inventory on a FIFO basis to be $646,000. Information pertaining to that inventory is as follows:

Selling price $600,000
Costs to sell 30,000
Replacement cost 557,000

What should be the reported value of Montanas inventory?

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