Question $4$

$1$ pts

$R-$ Mart Corporation is a retailer of pirate costumes. $R-$Mart uses Last In First Out $($LIFO$)$ inventory valuation. On August $31,2023,$ R$-$Mart held $20$ pirate costumes in inventory, which the company had paid $$50$ to purchase. Assume that this inventory is not impaired. On September $1,2023,$ R$-$Mart received delivery of $60$ costumes. R$-$Mart purchased these costumes for $$3$ each on account. During September $2023,$ R$-$Mart sold $50$ pirate costumes for $$6$ each. What amount should R$-$Mart report for the value of its inventory on its September $30,2023$ balance sheet?

$$80$

$$90$

$$60$

$$70$