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 carrying value of Montana's inventory?
A)$600,000.
B)$520,000.
C)$590,000.
D)$510,000.

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 carrying value of Montana's inventory?
A)$600,000. 
B)$520,000. 
C)$590,000. 
D)$510,000.

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 carrying value of Montana's inventory?
A)$600,000. 
B)$520,000. 
C)$590,000. 
D)$510,000.