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The Colburn Company has three products in its inventory. Colburn uses the FIFO method to calculate inventory costs. The following information is valid as of

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The Colburn Company has three products in its inventory. Colburn uses the FIFO method to calculate inventory costs. The following information is valid as of December 31: FIFO Cost Est. Selling Est. Cost to Est. Cost to Bring Product Quantity. Per Unit Price/ Unit Complete/Unit to Market/Unit A 1000 $ 10 $ 17 ta $ 2 $ 1 00 800 $ 15 $ 25 $ 3 2 600 $ 3 $ 4 $ $ $ 1 1 Colburn applies the Lower-of-Cost-or-Net-Realizable-Value rule on a per-item basis. Determine the monetary amount Colburn should report for its inventory account as of December 31. Prepare a table that supports your

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