Nevada Boot Co. has determined its year-end inventory on a LIFO basis to be $618,000. Information pertaining to that inventory is as follows:

Selling price	$	738,000
Costs to sell		38,900
Normal profit margin		89,000
Replacement cost		638,000

What should be the reported value of Nevada Boot's inventory?

Multiple Choice

• $610,100.

• $699,100.

• $638,000.

• $618,000.