Question: 1. Moss Co has determined its year end inventory on a FIFO basis to be $400,000. Information pertaining to that inventory is as follows: Estimated

1. Moss Co has determined its year end inventory on a FIFO basis to be $400,000. Information pertaining to that inventory is as follows:

Estimated selling Price $408,000

Estimated Costs to sell $20,000

What should be the book value of Moss's inventory

a.408,000

b.380,000

c.388,000

d.400,000

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