undefined

Flamingo Company's inventory information for the four products they carry in inventory at year end is shown below. They carry their inventory at the lower of cost or market, on an individual item basis. Flamingo's gross profit % on sales is 25%. Product Replacement Number Original Cost Cost Sales Price Disposal Costs 101 $80,000 $85,000 $160,000 $30,000 102 $175,000 $160,000 $200,000 $25,000 103 $160,000 $140,000 $180,000 $50,000 104 $45,000 $20,000 $60,000 $22,000 What is the total amount of inventory that should be shown on Flamingo's balance sheet at year end? Use the schedule below for your analysis