Montana Co.has determined its year-end inventory on a FIFO basis to be $600,000.Information pertaining to that inventory is as follows:
What should be the reported value of Montana's inventory?
A)$600,000.
B)$520,000.
C)$590,000.
D)$620,000.

Question

Montana Co.has determined its year-end inventory on a FIFO basis to be $600,000.Information pertaining to that inventory is as follows: 
What should be the reported value of Montana's inventory?
A)$600,000. 
B)$520,000. 
C)$590,000. 
D)$620,000.

Quizplus · Accepted Answer

The Answer of Montana Co.has determined its year-end inventory on a FIFO basis to be $600,000.Information pertaining to that inventory is as follows: 
What should be the reported value of Montana's inventory?
A)$600,000. 
B)$520,000. 
C)$590,000. 
D)$620,000.