Montana co has determined its year-end inventory on a fifo, Accounting Basics

Montana co has determined its year-end inventory on a fifo

Problem

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 $610,000
Costs to sell 37,000
Cost 560,000

What should be the reported value of Montana's inventory?

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Accounting Basics: Montana co has determined its year-end inventory on a fifo

Reference No:- TGS02710341

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Accounting Basics: Montana co has determined its year-end inventory on a fifo

Reference No:- TGS02710341

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